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Posted To: MBS Commentary
"DURATION DRIFT IN THE NEW YEAR" That was the first thing I posted on my FB page as the clock ticked past midnight on 1.1.11. What it means is I expected volatile interest rate activity in 2011. The world is sensitive to many issues. Especially money, politics and religion. So from where I was sitting at the moment, it made sense to expect the unexpected in '11. Case and Point : THE HORRIBLENESS OF JAPAN'S LATEST ROADBLOCK TO RECOVERY. The entire situation is stomach-turning. Atrocities aside, the event still took place. And the flight to safety that followed definitely led interest rates lower, but now we're backing up. Duration is drifting longer.... After stagnating near key inflection levels for what felt like an eternity, the 10 year Treasury note has broken through a cluster of support...(
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