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Bond Markets Jump into Positive Territory
Posted to: Micro News
Tuesday, April 15, 2014 10:35 AM
After wallowing around in negative territory all morning, MBS and Treasuries have precipitously moved into the green. Stock markets are taking part in the move as well. The timing doesn't line up with any economic data or market events, and thus is assumed to be linked to headlines out of Ukraine. To a lesser extent, news of a potential pipe bomb in Boston may have contributed to the flight-to-safety.
At this point, however, the pipe bomb story looks to be resolved (though it was just making the rounds when the move began). Ukraine headlines, however, are ongoing, and suggest at least a possibility of imminent violence.
Fannie 4.0s are now up 3 ticks on the day at 104-16 and 10yr yields are down 1.6bps at 2.625.
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