Posted To: MBS Commentary

Another week, another chance to see if bonds will continue to avoid confrontation with the boundaries of the recent range. 1.075% emerged as the floor to beat in terms of 10yr Treasury yields over the past 2 weeks, with multiple unsuccessful breakout attempts. In the first hour of trading in the new week, yields were already giving it another try–this time with a bit more conviction, but not enough follow-through to close the case. Despite the breakout attempt, gains stalled out shortly thereafter. This reinforces the notion that progress will be hard-fought without obvious, compelling motivations. On that front, there are several candidates in the near term. We know that the political landscape has generally had a negative impact on bonds recently, with the US government expected to issue…(read more)

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Published On: January 25, 2021 / Categories: Mortgage News /

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