MBS MID-DAY: Bond Markets Steadier, Slightly Stronger

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Posted To: MBS Commentary

MBS Live : MBS Morning Market Summary After moving to disconcertingly weak levels in the Asian session, bond markets rallied back during European hours, ultimately coming in the door slightly improved from yesterday's ugly closing levels. Since then, weakness in stocks--helped along by lower-than-expected Consumer Sentiment--has helped facilitate some additional improvement. Although it's been an "inside day" for Treasuries (where today's highs and lows are INSIDE yesterday's highs and lows), it hasn't merely looked like a consolidation (which an "inside day" typically suggests). Instead, rates have been trending lower with a fair bit of regularity and rhythm, though we'd emphasize that it hasn't been fast and furious. Anecdotes from market participants confirm that activity is already dwindling...(read more)

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Source: http://www.mortgagenewsdaily.com/mortgage_rates/blog/292073.aspx

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