Posted To: MBS CommentaryRight off the bat, with respect to the headline, I’ll let you know that the answer is going to be “it depends.” More on that in a moment. Bonds are starting the day in stronger territory after a weaker CPI reading and a tame European Central Bank announcement. By the end of the day, we’ll have made it through the week’s Treasury auction cycle, and a majority of the corporate debt issuance. All of the above is cause for moderation of the recent pace of bond market weakness. In the bigger picture, it looks like it has a very good chance to coincide with a technical ceiling that has come into play more than any other in 2018. For this chart, we’re looking at WEEKLY candlesticks. Believe it or not, market strategists do indeed look at closing levels and other technical…(read more)Forward this article via email: Send a copy of this story to someone you know that may want to read it.
MBS Day Ahead: Weekly Candlestick Chart is Actually Hopeful. Should You Trust It?
