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Bond Markets Run to Best Levels; Approaching 3-day Highs
Posted to: Micro News
Thursday, June 12, 2014 10:47 AM
MBS are Treasuries are near their best levels since Monday after breaking through today's previous resistance about 15 minutes ago. 10yr yields are down 2.1bps at 2.62 and Fannie 3.5 MBS are up 5 ticks at 101-29.
There was no overt market mover behind the mini-rally, but momentum clearly picked up, stock selling increased, and European bond markets were rallying toward the end of their session. Most lenders won't be in a position to consider any positive reprices unless we add a few more ticks of gains and hold them.
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