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Europe and Month-End Keep Bond Markets Propped up
Posted to: Micro News
Thursday, February 27, 2014 10:18 AM
Despite losing ground after the 8:30am economic data, both MBS and Treasuries managed to dig their heels in before sliding into yesterday's territory, making for a nice pivot-point bounce back to the best levels of the day.
There haven't been any sensational headlines or data releases since then. Instead, the boost is coming from a moderate, but noticeable positive bias in month-end tradeflows as well as an even stronger rally in late-day European bond markets.
MBS are up 4 ticks in Fannie 4.0s to 104-27 and 10yr yields are down .353 to 2.6387.
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