MBS MID-DAY: Weakness Persists After Morning Sell-Off

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Posted To: MBS Commentary

MBS Live : MBS Morning Market Summary While bond markets haven't fallen back to this morning's lows, neither MBS or Treasuries have been able to make it back across technical resistance levels. The "story" of today's weakness is well-documented in the recap of updates and alerts below. To summarize, the problems began in the Asian hours with comments from Japan's Economy Minister that suggested the Yen could safely go higher (in light of comments on Tuesday about needing to bring the Yen lower), so that's what it did! A higher Yen historically coincides with higher core rates in Europe and the US. It prompted some negative bond market momentum in Europe which was forcefully continued by rumors of ECB borrowing requirement changes. Treasuries were hit softer than German Bunds overnight, but...(read more)

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Source: http://www.mortgagenewsdaily.com/mortgage_rates/blog/291868.aspx

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