MBS MID-DAY: Holding Ground Uneventfully Despite Weakness in Stocks

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Posted To: MBS Commentary

I'll be the first to tell you that bond yields don't always follow stocks . Indeed, explicating their complicated relationship was the whole point of yesterday morning's commentary . With yesterday being a big day for earnings and a more liquid day for markets, bonds were more keen to follow stocks lower. But that relationship has changed today, as 10yr yields haven't been keen on breaking much below 2.26, even as S&P futures are off 20 points from morning highs. New Home Sales data was out much weaker than expected, and it had little effect on either side of the market. Arguably of more interest to the equities complex was a WSJ story that presidential frontrunner Hillary Clinton would propose 'nearly doubling capital gains tax rates on short-term investments.'...(read more)

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Source: http://www.mortgagenewsdaily.com/mortgage_rates/blog/491492.aspx

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