Posted To: MBS Commentary

Today marked a rare mid-week "total dud" in terms of bond market momentum developments. This was made all the more striking by the fact that bonds certainly COULD have developed some sort of reaction strategy based on the particulars of the US/China trade deal signing (it included several new clarifications on the deal). But I'd be the first to admit that trying to connect the dots between those boring trade-related details and actionable decisions in the bond market sounds about as tedious (or even impossible) as any trading motivation I can imagine. So bonds punted, yet again, and in so doing, carved out their narrowest trading range in more than a week. Treasuries gained modestly ahead of the 3pm CME close, but inconsequentially so. As discussed in the attached video, yields…(read more)

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Source: Mortgage News Daily