Accidental Clairvoyance (Not Really...)
Yesterday's end-of-day recap bore the title "Half-Hearted Correction Continues." It turns out that should have been the title for this morning's commentary as it's a better description of this morning's trading (yesterday, we actually had a few fundamentals to justify the weakness). In today's case, bonds are weaker "just because." Jobless Claims data (206k vs 225k f'cast) didn't help though--especially considering a higher claims reading helped kick off the big rally 2 weeks ago. Bonds seem more interested in trading technicals at the moment based on the very linear selling so far this week. Now that yields have tagged 4.10, it will be interesting to see the next move and it would be a surprise to see a lack of commitment until we get Friday AM econ data.
Categories
Recent Posts

Uncertainty Extended Indefinitely

Mortgage Rates Maintaining a Tight Range Amid War-Related Uncertainty

MBS Execution, AI, DSCR, Processing, HELOC Products; Hedge Funds, Treasuries, and Mortgage Rates

Hurrying Up And Waiting

Ceasefire Uncertainty Adds to Losses

Highest Rates in a Week But There's a Catch

VOA, Processing, DPA, Non-QM, Broker Products; Lender 2025 Volume Rankings; Attorneys and Legal Risk

Barely Weaker After Weekly ADP Data (Not Retail Sales)

Bonds Only Modestly Weaker After New Escalation Over The Weekend

Mortgage Rates Almost Perfectly Flat to Start New Week
GET MORE INFORMATION


