MBS Day Ahead: Bonds Get First Opportunity to Reverse Curse After ECB

Posted To: MBS Commentary

In the day just passed, the recent bond market selling-spree showed its first serious signs of leveling off since it began one week ago. This wasn't as triumphant is it sounds, however. Treasuries were unwilling to follow European bond yields lower in the early morning hours. Furthermore, after the very decent 10yr Treasury auction at 1pm, bonds were again unwilling to make noticeable improvements. In short, bonds looked to be taking their seats ahead of today's much-anticipated ECB announcement and press conference. In the day ahead, bonds will see how well they can hold the gains that have arrived in the wake of a generally friendly ECB announcement ( read the update on MBS Live ). A policy rate cut and re-upping of the ECB's bond buying program helped push 10yr yields down to…(read more)

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MBS Day Ahead: Bonds Get First Opportunity to Reverse Curse After ECB
MBS Day Ahead: Bonds Get First Opportunity to Reverse Curse After ECB

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