Posted To: MBS Commentary

Impressive Move to Longer-Term Lows. What’s Next? The centerpiece of today’s global trading session was an impressive overnight rally that took 10yr yields as low as 1.25%. That was strong enough to merit a corrective bounce between 7am and 9:30am, but yields topped out just over 1.30%, not once, but multiple times. The result is a classic pivot/inflection point on the 2-day chart –one we can continue to watch for evidence that bullish aspirations are shifting. As far as today was concerned, the repeated bounces at 1.30% added validity to the rally, at the very least. Econ Data / Events Fed MBS Buying 10am, 1130am, 1pm Jobless Claims 373k vs 350k f’cast, 371k prev Market Movement Recap 08:23 AM Bond rally extends overnight, once again driven by the European session. 10yr yields…(read more)

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Published On: July 8, 2021 / Categories: Mortgage News /

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