The Smart Team of NOVA® Home Loans

MBS RECAP: Range-Bound Bonds Wait For Inspiration

Posted To: MBS Commentary

On a positive note, bonds were slightly stronger today and yields held just barely below a technical level that has been more of floor than a ceiling for much of 2017 (2.37%). On a negative note, bonds maintained much of the weakness seen last Friday afternoon. On a positive note, Friday afternoon's weakness was a precipitous correction to the best levels of 2017. On a negative note, it looked like bonds were interested in bouncing at even higher yields before getting hit with friendly surprises in the form of Syria headlines and a super weak NFP reading. We could go on and on with the general balance of positive and negative, but isn't it always more important to figure out where we're going next as opposed to where we've been? In that regard, this week may struggle to be relevant…(read more)

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Source: Mortgage News Daily

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