Posted To: MBS Commentary
1.72 has been more of a roadblock than any other level for 10yr yields We’re currently at risk of bouncing there Today’s data may not help, but post-auction could be interesting What is “technical resistance?” I’ve tried to distill the essence of ” technical analysis ” on occasion, but the result usually adds about as much clarity as Zoolander saying “moisture is the essence of wetness.” Even so, I will give it another shot. Simply put, technical analysis is a framework for finding meaning and significance in market movements that relies solely on market movement itself. The technical analyst is analogous to a biologist who only takes notes about the behaviors of any given species, independent of external variables. For instance, this biologist wouldn’t…(read more )