Posted To: MBS Commentary
2021 began with heavy selling pressure in bonds following the Georgia senate election (which gave full control of congress and the White House to one political party, thus making it easier to create more supply in the bond market). Additional selling motivations surfaced in the coming weeks with Feb 25th being the worst day of organic weakness for the bond market since the 2016 presidential election ("organic" means it wasn't like the temporary, artificial weakness seen in the few days at the start of the pandemic as yields found bottom after screaming out for the Fed's assistance). All that to say 2/25/2021 was a big day with big volume–one that began with a confirmed break above 1.44% (for the first time since the pandemic began). Now today begins with the first confirmed…(read more)
Source: Mortgage News Daily
