Bonds Dodge British Bullet But Still Fighting For Survival
Bonds Dodge British Bullet But Still Fighting For Survival
Abstract
Bonds Dodge British Bullet But Still Fighting For Survival The overnight session and especially yesterday's holiday session raised serious concerns about how the week might start for the US bond market. It was touch and go as late as 10:30am ET, but after that, bonds made it safely back under the technical level at 3.92% and traded near unchanged levels into the PM hours. 10yr up 4.3bps at 3.931 and MBS down a quarter point, but with a quarter point still separating buyers and sellers. MBS still down an eighth of a point, but up more than a quarter point from the lows. 10yr yields up only 2.7bps, but down more than 5bps from the AM highs. Recovery continues with MBS and Treasuries both perfectly unchanged on the day. MBS down 6 ticks on the day and 10yr yields up 4.1bps to 3.929.