Still Not Reading Too Much Into This Week's Weakness
Still Not Reading Too Much Into This Week's Weakness
Abstract
Still Not Reading Too Much Into This Week's Weakness Friday began with bonds reacting negatively to economic data that didn't seem to justify too much weakness. We discussed that briefly in the AM commentary and a more detailed discussion follows in today's recap video. The market has yet to truly make its next move after rallying in response to November's CPI report. Either way, we won't be able to know until January. 10yr up almost 4bps at 3.725 and MBS down 7 ticks. Modest bounce heading into the 11am hour, but no traction after that. MBS down 6 ticks and 10yr yield up 6bps at 3.745..
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