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Yesterday I wrote that mortgage rates were under pressure because stocks were rallying. Yes stocks were indeed on a winning streak, but the bond market hasn't done all that bad...all things considered. Don't get me wrong, mortgage rates are definitely higher than they were last week, but by pricing...
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Benchmark Treasury prices and mortgage-backed security prices rallied yesterday. AQ described the inner dynamics of the trade strategy that led to rate improvements READ MORE . In terms of the headline news catalyst for the rally in bond markets, some fixed income friendly verbiage from Federal Reserve...