Posted To: MBS CommentaryDespite a fairly perfect bounce yesterday, the trend-lines acting as floors in stocks and bonds have given way overnight, even if only in somewhat underwhelming fashion. For instance, compared the 3.06 line in the sand, 10yr yields began the day at 3.04 and are already up a bit from there. The S&P is only 20-30 points below its supportive line (not a big move for the S&P these days). Nonetheless, a break is a break! The biggest question is whether or not we should read much into this considering my typical effort to convince you that Thanksgiving week market movement should be taken with a grain of salt. In fact, I do think we CAN read something into it. Granted, there’s no way to confirm a definitive , big-picture shift. Absent a much sharper sell-off in stocks, I think bonds will…(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