MBS RECAP: Best Close in Nearly 6 Months for Bonds

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Posted To: MBS Commentary

One year ago today, things "got real" for bond markets as they leaped into significantly stronger territory, ultimately ending the day at the best closing levels in more than a year before going on to have an even crazier October 15th (that was the day with the intraday swing from 2.23 to 1.86 that teams of experts are still trying to figure out). Today wasn't quite on par with last year's October 14th (which also benefited from the shock value of being the Tuesday after a 3-day weekend), but it was no slouch . 10yr yields and MBS closed at their best levels in nearly 6 months as global growth concerns hit home. The attack came on several fronts. The obvious issues--and the biggest sources of volume--were the morning economic reports. Retail Sales missed estimates and only...(read more)

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Source: http://www.mortgagenewsdaily.com/mortgage_rates/blog/519389.aspx

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