Posted To: MBS Commentary

Remember the end of July? We were worried that an entire month of gains in bonds could give way to a momentum shift in August. It did. September brought a recovery. It wasn't as bullish as July, but it was a sideways-to-slightly-stronger theme nonetheless. October was almost a carbon copy of August in terms of negative momentum. Once again , the negativity cooled off in the following month (the one that just ended) with Treasuries ending up in slightly better territory versus October 30th. With seemingly serendipitous weakness this morning, is recent history (like that of August or October) repeating? Too soon to tell, of course, but never too soon to consider! All of the above is frustratingly difficult to follow based on prose alone, but today's chart makes it easy to see the shifting…(read more)

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Source: Mortgage News Daily