MBS RECAP: Stocks Surge and Bonds Stumble Ahead of NFP

Posted To: MBS Commentary

Generally higher yields and tepid intraday performances are nothing new for bond markets over the past week and a half. In some ways, today marked a mere continuation of that trend and even offered some silver linings. In other ways, it kicked the weakness into a slightly higher gear ahead of tomorrow’s jobs data. In terms of silver linings , intraday yields managed to hold below the intraday highs seen on 3 other recent tradings sessions (beginning with September 28th). That could be taken as evidence that bonds are consolidating and haven’t really made up their mind. Moreover, bonds have been able to do that even as stocks have embarked on a rather impressive run to new all-time highs, with today being the most impressive of the lot. If you stop reading after the previous sentence…(read more)

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