MBS Live Recap: Is Today's Bounce Enough to Reinforce the Range?

Abstract

After 5 straight trading days of weakness and 3 stubborn days failing to break below the most recent rate floor, bonds finally managed to put in a solid performance. The big question is whether or not today's single day of gains is enough to suggest that bonds are at their near-term ceiling. To the optimists, we'd say that's not impossible. To the pessimists, it's not guaranteed, and to everyone in between, it probably depends. To everyone inBetween, it likely depends on the upcoming data and events. It probably depends on on the upcoming Data and events, and it probably depend on the current data and Events and events and the upcomingData and events in the next few days.