Posted To: MBS CommentarySo there’s this sideways trading range, and we’re waiting for bonds to break out. The end… Seriously though! It’s really that simple . We’d been in a range of 3.06-3.09, for the most part, in the last week and a half of September, but thought SURELY there would be no way to remain in that range after the much-anticipated Fed announcement last week. As it happened, Fed day was only able to catalyze a tentative break below 3.06–one that didn’t even materialize until Friday morning. To make matters more frustrating, bonds spent the entirety of Friday moving back up into the previous range. Yesterday saw the weakness continue, nearly to the point of reaching the upper boundaries (in fact, yields were as high as 3.095% in the overnight hours). Now today, we’re starting…(read more)Forward this article via email: Send a copy of this story to someone you know that may want to read it.
Michael Ayoub, Author NMLS ID 6631