Since the initial "WAY BETTER THAN IMAGINED" Non-Farm Payrolls induced yield curve steepening fixed income sector sell off....
The 10 yr note yield has retreated from 3.90% back to 3.79% and the FN 4.5 has recovered the brunt of the first wave of losses.....but selling pressure remains!
I was sitting here pondering a tactic that might help dissapate the feeling desolation that many of you may currently be feeling. This is all I got so far....
HEY BEN...LOOK AT THIS!!!!! TAKE A LONG HARD LOOK!!!!!!!
REMEMBER HOUSING???? MORTGAGE RATES ARE IN THE MID 5's NOW....THIS IS ONE OF THOSE MARKET CONDITIONS THAT WILL STALL THE RECOVERY PROCESS!!!!
Pipelines are emptying....COME ON!!!
Yes I am yelling.....I feel a little better. I hope you do too....
PS: Hedge funds buying at price lows. There is hope!
MBS Market Alerts
