MBS RECAP: Eerily Sideways Session After Starting Weaker

Posted To: MBS CommentaryMBS Live : MBS Afternoon Market Summary In the absence of heavy-hitting domestic considerations such as last weeks impressive slate of economic data and events (NFP, FOMC Announcement, Etc.), markets quickly got back to the familiar game of paying lots and lots of attention to Europe overnight and looking a bit confused during the domestic session. This is especially true for bond markets, which tend to go sideways when confused, as opposed to stock markets which tend to keep on going in whichever direction they were going. With all this in mind, Europe motivated a big "risk-off" trade yesterday and a big "risk-on" trade today. Bond markets have done a seemingly impressive job of holding sideways since the domestic open, especially considering the continuing advance in equities markets. There...(read more)Forward this article via email:  Send a copy of this story to someone you know that may want to read it.http://www.mortgagenewsdaily.com/mortgage_rates/blog/294538.aspx @ uwad.com