Slow and Sideways as Markets Wait For Bigger News
Slow and Sideways as Markets Wait For Bigger News
Abstract
Bonds began the day in moderately weaker territory but rallied back over the next few hours. Still weaker on the day with 10yr yields up 2.9bps and 4.5 UMBS down 3 ticks (0.09) Bonds turned green just after 11am and have picked up a bit more ground since then. Gains leveled off into the PM hours and MBS have been flat since then. Gains levelled off.
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