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Posted To: MBS Commentary
Blah blah blah rates higher blah blah blah outside the range blah blah blah Treasury supply blah blah blah tactical considerations blah blah blah holiday distractions blah blah blah low volume blah blah blah exaggerated price action blah blah blah lack of strategic bargain buyers blah blah blah waiting for January 7, 2011 blah blah blah. Plain and Simple: benchmark 10s have crept outside the confines of the recent trading range. This is playing out ahead of Treasury auctions next week and is seen as a tactical ploy to profit from the day trading sentiment of a holiday distracted marketplace where low volumes tend to distort reality and create chopatility. We have noticed a clear lack of demand from strategic bargain buyers who appear to be waiting for confirmation that the November Employment...(
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