Consumer Sentiment was the only report on the calendar today.  Markets typically don’t pay too much attention to it and today is no exception.  Markets were trading a sideways-to-slightly higher pattern in the higher part of yesterday’s yield range leading up to the data.  The concern at the time was that yields had tried on multiple occasions to break below the 2.0% barrier but were met with incredibly reliable resistance.
Despite coming in at the weakest level in more than a decade, the sentiment data did almost nothing to move the bond market. 

Low volume confirms that lack of concern, not to mention the fact that bond yields didn’t really take off until 11am.

Published On: February 11, 2022 / Categories: Mortgage News /