Posted To: MBS Commentary

One of the most stunning and profound features of the past week of trading days has been the intensely higher volumes-especially in the overnight trading sessions. Typically a strong day of volume in 10yr Treasuries futures is anything over 1m contracts. The past 5 days have each had over 2m contracts, and the same can be said for 8 out of the 9 past days. That puts it in league with the most action-packed moves of the past several years, including the epic rally in August that followed the US/China trade war flare up. We've also seen these sorts of volume surges when bonds are in the process of bouncing at a big picture ceiling or floor. And that's a sobering reminder as to what's at stake here. Granted, yields haven't quite hit the recent extremes (down at 1.44% from last…(read more)

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Source: Mortgage News Daily