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Now at Weakest Levels Thanks to Stock Lever
Posted to: Micro News
Wednesday, February 5, 2014 9:03 AM
While bond markets improved as stocks slid after this morning's ADP data, those trends have reversed mid-morning. Stocks continue to provide the best guidance for MBS and Treasuries where a move from 1745 to 1743 in S&P Futures has been good for a move from 2.60 to 2.626 in 10yr yields.
MBS experienced the same move as a fall from 104-31+ to 104-28 presently. The next chance for economic data to have a say will come at 10am with ISM Non-Manufacturing, but until then, stocks continue to be the highest-probability bet.
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