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Posted To: MBS Commentary
There's typically very little to say that hasn't already been said come NFP morning. Although that's certainly true today, yesterday's weird price action suggests we hold the notion up to the fire--essentially asking: is there STILL very little that hasn't already been said? No. The title probably gave that one away, but here's why: Literally and figuratively, bond markets moved into new range after 5/22, and handily confirmed the move on 5/29. Figuratively, the new range was (and is) the new way in which markets began thinking about " what might happen to interest rates" if the Fed adjusts the pace of asset purchases sooner than later. The figurative move was given literal credibility by 10yr yields moving up over 2.07 on May 28th (that really really awful sell-off on the Tuesday back from...(
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http://www.mortgagenewsdaily.com/mortgage_rates/blog/311758.aspx - For more real estate news visit our website at http://www.AzHomeHelp.com
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