The Smart Team of NOVA® Home Loans

MBS Day Ahead: Bonds Not Interested in Data

Posted To: MBS Commentary

While there is more economic data on the calendar today, bond markets continue to look elsewhere for inspiration. Geopolitical risks, fiscal policy, Fed policy, currency fluctuations ongoing downtrend in stocks… all these things have been moving bond markets much more than most economic reports. The recent combination of this group of factors has clearly been positive for US bond markets, resulting in a clearly-defined downtrend that has broken through the post-election trading range. The only order of business at the moment is to keep an eye on this trend. It represents the slow death of the post-election Euphoria. We can refine and reassess our ideas about that desuetude whenever this trend is broken. In the chart above, both of the lower panes are stochastics–a technical overlay that…(read more)

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Source: Mortgage News Daily

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