Posted To: MBS Commentary

After Friday’s impressive (and much-needed) bounce toward lower yields, the new week/month took on even greater importance than normal as a venue for a shift in the recently ultra-bearish tone. In other words, yields have been surging relentlessly higher, and it’s about damn time for a ceiling bounce (or so we’d hope). Friday’s afternoon gains increased those hopes, and maybe even the odds. If we get the bounce we’re hoping for, you’ll know it. It will be big and decisive. If, on the other hand, yields merely chop around in a wide, sideways range (let’s say 1.38 – 1.62), it will be confirmation that the market is entering the “acceptance” phase of it’s grieving process over the loss of low yields. Why focus on the levels of 1.38-1.62? Chart nerds already…(read more)

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Published On: March 1, 2021 / Categories: Mortgage News /