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Posted To: MBS Commentary
As we discussed yesterday, the momentum that has been negative for benchmark Treasuries and production MBS coupons throughout February... may be shifting. MUST READ BACKGROUND CONTENT: Directional MBS Alert: Bond Market Builds Case for Lower Rates We remind though, rates don't move lower as fast as they move higher. This shift won't be served up on a silver platter. A change of bias will take time to confirm. We will undoubtedly face pressure from bearish short sellers and profit takers along the way. There will be periods of volatility and increased anxiety that will lead us to question the potential for further positive progress. Beware. There are short term milestones that must be met if the recovery rally is to extend for mortgage rates. These inflection points and targets will be important...(
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