Posted To: MBS Commentary

Following yesterday's sharp losses, the bond market didn't do much overnight, nor is it doing much to push back in the other direction this morning. In fact, 10yr yields are starting out at their highest levels since the Pfizer vaccine sell-off in early November, and those were the highest levels since March. Moreover, the weakness made for a perfect technical bounce on the lower line of the trend channel we've been tracking. From a purely technical perspective, the implication is to once again challenge (or "re-test") the recent highs, at a minimum. We're close enough to those to consider that a work in progress, actually. The scarier scenario would be a move to the upper trend line. In thinking about scary scenarios, it's definitely one of those precious few…(read more)

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Source: Mortgage News Daily