MBS AFTERNOON: Volatility Fades As Bonds Cling To The Edge
Posted To: MBS Commentary
The Edge: Both MBS 4.5's and 10yr notes are UNCHANGED at the moment For MBS, that's 100-30 and for the 10yr, that's just under 3.73 Verdict on this auction cycle: undecided… waiting for retail sales tomorrow and FOMC next week The snake continues to coil, but who will it strike? When we reference the snake, that would be a chart with with converging/competing trends in a "triangle" shape. Since the line on such charts is usually predisposed to move directionally after it breaks out of the triangle. In this sense, it's like a "coiling snake" preparing to strike out in one direction or the other. As we are still in the middle of this triangle, there's no clear indication of which direction rates want to move of their own accord. With retail sales coming…(read more)
Written by Matthew Graham on March 11th, 2010 with
comments disabled.
Read more articles on Home Equity Loans.
- [+] Digg: Feature this article
- [+] Del.icio.us: Bookmark this article
- [+] Furl: Bookmark this article