Posted To: MBS Commentary

If you're looking at the world through the lens of an epidemiologist, CDC employee, airline CEO, the stock market, the economy, or person over 65 living in close contact with sick people, the case for fear has been pretty obvious lately. Like a glorious vulture feeding off the destruction, the US bond market derives hope from the fear of others. In fact, "hope" doesn't begin to do justice to the recent phenomenon in bonds. We'd have to break out terms like "zealous fervor" or "unyielding ferocity" to describe the recent move. In fact, "unyielding" is possibly a great term considering traders quickly began considering 0% Treasury yields as the 10yr flashed 0.318 as trading began in yesterday's overnight session. But big moves in financial…(read more)

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Source: Mortgage News Daily