Posted To: MBS CommentaryThe bond market has seen one too many “stay thirsty” memes. For example, “I don’t always rally for more than a few days in a rising rate environment, but when I do, it’s because of massive stock losses.” As we’ve discussed quite a few times recently (and really, any time that stock losses start pulling bond yields lower), there are diminishing returns. Bonds have a thirst that will only be quenched by significantly more abrupt panic in stocks. While today’s stock volatility might have looked like panic earlier this month , at this point in the correction cycle, it was just another day . Bonds weren’t impressed. 10yr yields were moderately higher through the morning hours, but began to recover as stocks moved lower in the afternoon. New tariff headlines…(read more)Forward this article via email: Send a copy of this story to someone you know that may want to read it.