Posted To: MBS Commentary10yr yields ended the week at almost exactly where they began. With the exception of Tuesday, bonds closed within 1.5bps of each other on the other 4 days this week. Tuesday was only 2bps higher and gave way to an overnight rally that restored the range anyway! Long story short, for all the hullabaloo about Turkey/China/Etc. it was a really quiet week. Part of the issue is that Turkish shockwaves had their fun last week, but even then, it’s not as if bonds are making big moves in the bigger picture. If bonds aren’t moving, perhaps we can find something interesting to say about something that IS moving and that usually has an effect on bonds. Granted, I’ll be the first to point out that the stock market should never be seen as a bond market indicator, but if we want to keep track…(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