|This email was sent to you by:|
Harry Chriest |
Mortgage News Daily
Email alerts, such as this one, are a free service
provided by Mortgage News Daily. If you would like to receive an alert when important news breaks
please register to join our community
Bond Markets Little Changed After Quiet Overnight Session
Posted to: Micro News
Monday, March 10, 2014 9:22 AM
Weak economic data out of China provided a mild boost for Treasuries early in the overnight session while rallying equities in Europe sent yields back in the other direction. By 8am 10yr yields were less than half a bp higher than Friday's latest levels and MBS were content to walk in the door perfectly unchanged.
Both have improved just slightly since then with the turning point being the 8:20am CME open (Treasury futures pit trading).
Bonds face some challenging headwinds from a potential shift in momentum following last week's NFP. Near term inspiration to move higher or lower is going to be hard to find unless it jumps out at us (i.e. not much going on until Thursday). As such, the absence of a continued sell-off gives the first small clue in determining bond markets' innate desires (as in "there are none yet").
More from MND:
If you would like to opt-out of receiving email forwards from this person please click here to remove your email address.