Posted To: MBS CommentaryIs today the day we break the “key technical level” at 2.82? Spoiler alert: you shouldn’t care and it doesn’t matter . I’m sorry if this is disillusioning or confusing. I spend a fair amount of time talking about technicals and various lines in the sand. It might leave you with the impression that some future move is more likely if we can just get past a certain hurdle. But technical levels aren’t as simple as “glass ceilings” for bond prices. They’re much more like mile markers that simply let us know where we’re at on any given journey. If you’d like to bask in more long-winded definitions and discussions, here they are: Basic Concepts of technical analysis Pivot Points, Key Levels, Floors, Ceilings, Etc. Trust The Technicals? The bottom line…(read more)Forward this article via email: Send a copy of this story to someone you know that may want to read it.