Posted To: MBS Commentary

Last week ended poorly for the bond market with yields jumping to new one year highs. It was also the first full week with 10yr yields trading above 2019’s low yield of 1.44%. Despite the break of the 1.62% ceiling, yields stayed fairly close, and they remain close to begin the new week (1.614% at 9am). This leaves us in the familiar position of “still trying to establish/confirm a ceiling ” after the selling trend that began last August and accelerated abruptly in 2021. 1.62 still has a chance (although it would have to be called 1.62-ish at this point), but more than a few traders have been throwing around numbers like 1.75%. Odds would improve dramatically as yields approach 1.95%, both because of the nearby psychological barrier at 2% and its role as a critical pivot point…(read more)

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Published On: March 15, 2021 / Categories: Mortgage News /

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