Posted To: MBS Commentary

Given recent temperature trends, we’re well within our right to expect actual bears to be in hibernation. How about bond market bears? They’ve eaten their fill so far this winter–enough that we might expect them to go quietly into the night simply due to oversold technicals. Surely, a visit to the pre-covid all-time lows in 10yr yields would be enough to satisfy bearish appetites, right? Or perhaps that’s entirely too obvious and the market will continue to punish traders who try to catch the falling knife (of bond prices) too soon. With apologies for mixing metaphors, today’s early price action suggests the knife is still in the air and that the bears are refusing to hibernate just yet. When will this change or what will it take for things to change? Rates have been consolidating…(read more)

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Published On: February 19, 2021 / Categories: Mortgage News /

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