Posted To: MBS CommentaryBond markets traded well on Monday. In fact, 10 yr yields dropped more than any session since early November. Then again, they were starting out the session in line with the highest yields since mid April 2012. This means that 10s have essentially survived day two of the sort of "do or die" situation they found themselves in after yields rose to multi-month highs for the second time last week. The first instance--at least during domestic hours--of 10s hitting the upper middle 2.03s followed the FOMC Announcement. The tense situation above refers to yields revisiting the exact same levels both before and after Fridays NFP (with a massive 10bp+ spike in between), take a look: The most recent red candlestick touching the upper teal line represents the last hour of Fridays trading. The adjacent...(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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