MBS RECAP: Weakness Continues For Bonds as China Fears Subside

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Posted To: MBS Commentary

The headline is the recap. There's not much more to it than that. Ever since China stepped in to stem the tide of currency weakness yesterday afternoon, bond markets have been selling-off. It was good while it lasted, but as far as surprisingly potent market-movers go, this particular iteration of this particular market mover has run its course. If we want to stretch the boundaries of correlation and causality, we could discuss the fact that Retail Sales numbers were slightly stronger than expected this morning and that the previous month of data was revised better by a less-than-insignificant amount. But in reality, there just wasn't much market movement surrounding this morning's data. The better place to look for supporting actors in today's drama would be the corporate bond...(read more)

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Source: http://www.mortgagenewsdaily.com/mortgage_rates/blog/499991.aspx

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