MBS RECAP: Rough Day For Bond Markets, Even Before It Began

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Posted To: MBS Commentary

MBS Live : MBS Afternoon Market Summary It's interesting to consider that today's weakness was essentially present from the outset ("interesting" in an awful, painful sort of way). In another sick sort of way, it was also refreshing to see markets making movements that were clearly correlated to related markets and events. Things have been a bit slow recently, and at least from an analytical perspective, they were easier to make sense of today. Sadly, that sense is a bit bearish, but here goes: Europe. That is all.... German Bunds (and other stuff like UK "Gilts") led this charge higher in yield overnight with Treasuries doing a pretty good job of fighting off the bearishness from European "core" debt markets. Quite simply, the as-expected Retail Sales report was then the staging area for tons...(read more)

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Source: http://www.mortgagenewsdaily.com/mortgage_rates/blog/295880.aspx

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