Posted To: MBS Commentary

At the moment I'm typing this, 10yr Treasury yields are 40 basis points lower than they were at the end of last week. This hasn't happened since the two craziest days of the financial crisis. But this week trumps the crisis in another metric: outright yield levels. Whereas it was a total and complete shock to see yields plummet to multi-generational lows of 2.04% in 2008, what do you even say about today's yields? They're under 0.80% right now and were as low as 0.66% less than an hour ago. At this point, very little can be ruled out in terms of where markets might go and how the ongoing panic trade against coronavirus may unfold. There is a bottom here and it's true the bounce back runs the risk of being swift, but we're now in uncharted territory. We've surpassed…(read more)

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Source: Mortgage News Daily