Posted To: MBS Commentary
In case you missed it, things have been bad for bonds since last Thursday. A combination of factors conspired to push yields higher at the fastest pace since the springtime surge credited to vaccines, plummeting case counts, and fiscal policy. Incidentally, all 3 factors remain in play to some extent. The new vaccine info concerns potential approval for children under 12, and that would only add to the assumption that a recent decline in case counts will continue. As for the present pace of case counts, the recent decline has slowed in the past few days–something that helps the bond market reconcile a bit of consolidation. On the fiscal front, all eyes are on the stop-gap bill to avoid a government shutdown and allow time to hammer out details of the larger infrastructure bill. D.C. drama…(read more)
Source: Mortgage News Daily
