Posted To: MBS Commentary

Bonds had a great day yesterday–not so much because the rally covered a ton of ground, but rather because it helped build a case for the end of the more abrupt selling pressure seen in February. The hope was (and still is, to some extent), that March would offer some push back to February’s rout. Those hopes were much brighter yesterday , even if we were still feeling cautious due to the inability to break the 1.38% floor in 10yr yields. Today is a different story and a fresh reminder of 2021’s rising rate environment. Rather than triumphantly break below 1.38% last night, yields went out of their way to avoid it. Insult was added to injury during European hours where EU sovereign yields led another early morning sell-off in Treasuries. Likely culprits include generally-stronger economic…(read more)

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Published On: March 3, 2021 / Categories: Mortgage News /