Posted To: MBS Commentary

You know things are bad when I resort to invoking Kierkegaard in bond market commentary, but that's what it's come to. Our quest to observe something interesting in terms of rate momentum is beginning to feel hopeless. In fact, if someone wanted to be a real whiner about it, they could make a very strong case for another year of sideways momentum, or close to it. They would be like Kierkegaard's Knight of Infinite Resignation (at least I think they would…) I took one philosophy class in college, and the lesson on these 2 stony knights is one of the only things I remember. Basically, one is a pessimist who thinks he's just being a realist. He believes there are solid reasons that he will never win the love of the princess. So he gives up and finds his own sort of peace in that…(read more)

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Source: Mortgage News Daily