Posted To: MBS Commentary

Trade headlines rocked markets yesterday, making for the biggest single-day bond rally since early August–even after the gains moderated in the afternoon. The pace of the move was perhaps a bit surprising given the recent evidence of desensitization to every little update on the US/China trade deal. Still, the move could be justified by the specific nature of the news (i.e. it wasn't just another "getting closer to a deal" headline). Heading into today's session, however, we seem to be right back where we started, with one of those generic "getting closer" headlines apparently responsible for the only noticeable shift in the overnight session. The spike on the following chart followed a tweet from a bloomberg reporter saying that the deal is still progressing despite…(read more)

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Source: Mortgage News Daily