Posted To: MBS Commentary

Have you ever worried about the negative repercussions of some anticipated event in your life only to find out they weren't so bad? For the bond market, last Friday was one of those days. The much-anticipated phase 1 trade deal was (kind of) announced by both the US and China. Apparently, there are still a few details left to hammer out not to mention the fact that the thing won't be signed until January at the earliest. Ultimately, it was those "yeah buts" that allowed bonds to almost fully erase the massive day of anticipatory weakness seen last Thursday. That said, last Thursday wasn't the only day that bonds were allowed to harbor some negative anticipation. Realistically, most of the last 4 months have been spent coming to terms with the eventual end of the trade…(read more)

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Source: Mortgage News Daily