MBS MID-DAY: Week-Long Positive Trend Running Out of Steam

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Posted To: MBS Commentary

After the last visit to May's weakest levels (last Wednesday morning), MBS and Treasuries have been in a fairly linear trend back toward stronger levels . But as we approach those levels, bond markets are visibly having second thoughts . It's all right here in this easy-to-read chart: I would hesitate to read too much more into the current state of affairs. There are logical reasons for a positive correction within the range. Those reasons have existed for a few weeks now and the light at the end of the tunnel in terms of May's debt supply (Treasuries and Coroporate debt) helped them translate into the move we've seen over the past week. It continues to be the case that Europe's participation is required when it comes to mounting any major offensive back toward lower rates...(read more)

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Source: http://www.mortgagenewsdaily.com/mortgage_rates/blog/475700.aspx

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