Posted To: MBS CommentaryMBS Live : MBS Morning Market Summary Bond markets coasted into the domestic session in marginally improved territory ahead of this mornings economic data. A look at the overnight trading builds the sense that there was indeed some "pressure release" after yesterdays Fed Announcement arrived without any material changes in policy. The entirety of the post-FOMC trade in 10yr yields looks like a hang-glider being pushed off a small cliff, but who catches his balance and levels off before crashing. Stocks and bonds were unified in this leveling off movement, however, which does more to suggest a microscopic unwinding of the "great rotation" trading themes that seem to have been in play recently (money out of bonds, into stocks, general "risk-on" stuff and jives well with the stock-lever being...(read more)Forward this article via email: Send a copy of this story to someone you know that may want to read it.
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