Posted To: MBS Commentary

If you're like me, your initial impression of the financial market is that it's "thing" with a mind of its own– always on , always moving, with thousands of interested parties moving money at any given millisecond. To some extent, that's true, but only at certain times of day and only for certain sections of the overall market. The overnight hours in the cash market for US Treasuries aren't really in the big leagues in that regard. But come 8:20am, that often changes. 8:20am is the unofficial opening bell for the bond market and the official opening bell for CME pit trading in Treasury options (previous Treasury futures too). Things are hit and miss before that, but domestic trading can be seen in spurts in the several hours leading up to 8:20am. When domestic traders…(read more)

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Source: Mortgage News Daily