Even When It's Good, It's Bad
Even When It's Good, It's Bad
Abstract
A big reversal in UK trading got the party started for sellers, with the Consumer Sentiment data adding fuel to the fire. Bonds did a good job of leveling off in the afternoon, but not before 10yr yields were back above 4.0% and MBS down half a point. MBS up an eighth after being up more than 3/8ths. Additional weakness after comments from Fed's Daly and a few others.
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