Posted To: MBS CommentaryYesterday, the first thought we shared about the previous sessions was: "bond markets traded well on Monday." What a difference a day makes... Bond markets did anything but trade well on Tuesday. In fact, were not exactly sure what they did. Any movement, momentum and/or signs of life really, were seen in the overnight hours--specifically during the European session or before. Seriously... Heres the past 3 days of 10yr yields during the domestic session. Just stare at it: If you find yourself wondering whether or not 10yr yields just spent the day trading WELL inside a 2bp range and 11bps and 9bps in the 2 previous sessions, yeah... they did that. Heres yesterday mornings chart which showed the hoped-for support just under 2.04 and the "hope to break" resistance in the mid 1.95s. Here...(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/294600.aspx| Call Bonnie Kelly for all your real estate needs: 505-350-8672 @
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