MBS MID-DAY: Overnight Session Weak Data Fuel Bond Market Rally

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Posted To: MBS Commentary

MBS Live : MBS Morning Market Summary Bond markets began the day in slightly better territory after the European session traded "risk-off." German debt rallied, peripheral debt and equities weakened as the risk rally of the past week finally turned a corner. There was buzz about hiccups in the Cyprus bailout process, but the move was certainly technical as well. Bond markets were stronger after Retail sales, but met resistance as equities markets came online. The stock lever was a bit of a drag on bond markets heading into later morning data, and the opposite was true until just a few minutes ago. Weaker-than-expected Consumer Sentiment data confirmed a bounce off the highs for stocks, which then flushed lower over the next hour. Bond markets resisted the move at first, but 10's eventually...(read more)

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Source: http://www.mortgagenewsdaily.com/mortgage_rates/blog/304114.aspx

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