Posted To: MBS Commentary
Bonds opened weaker as Yellen’s Friday comments reverberated data was largely ignored Bonds rallied after Brexit poll and technical ceiling in 10yr yields 10yr Treasuries have been holding a very tidy, very sideways range for 8 straight days now (that’s every single session since the FOMC Minutes, for what it’s worth). During that time, they never moved above 1.89. Today marked the closest call with that upper boundary as domestic traders joined the bond market sell-off already in progress early this morning. Not only did the range end up holding, but bonds soon found reason to rally. While we can assume that some sponsorship came courtesy of the month-end trading environment, the more readily-apparent culprit was a newswire regarding a new poll on the likelihood of Brexit (UK leaving…(read more )