MBS MID-DAY: Straightforward Sell-Off, Large And Unpleasant

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Posted To: MBS Commentary

MBS Live : MBS Morning Market Summary As opposed to one of those enigmatic trading days where MBS and Treasuries are moving rapidly in either direction without clearly being associated to a market-moving event, today's market movers are right out in the open. At least they WERE right out in the open during the European session. Bottom Lines Are These: Rates have been trending higher in the intermediate and longer terms with trends beginning mid 2012 and more prominently in November 2012 There has been a recent short term "counter-trend" leading back from the high rate levels on the first day of 2013 when 10yr yields hit 1.97+ intraday and closed at 1.91 Wednesday saw the short term counter-trend edge across the boundary of the medium term uptrend (we had a chance to break out!). Thursday gave...(read more)

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Source: http://www.mortgagenewsdaily.com/mortgage_rates/blog/293013.aspx

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