MBS Day Ahead: Is That It For The Rally?

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Posted To: MBS Commentary

We had a good run last week of modest gains that followed the abrupt selling-spree that began in late October. In other words, rates rose quickly , but finally looked to be leveling-off and perhaps gaining some ground. Throughout that process of bouncing back, I'd flown a warning flag of sorts, advocating caution due to the nature of so-called "consolidations." This is just a more confusing way to talk about trading prices/yields leveling-off after a brisk move in one direction or another. Shockingly enough, consolidations don't predict the future. They can merely serve as a pause for markets to catch their breath before continuing with the move, or they can be the first indication that investors are ready to step back in and trade in the other direction. Trying to determine...(read more)

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Source: http://www.mortgagenewsdaily.com/mortgage_rates/blog/532724.aspx

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