
Mostly Holding Last Week's Impressive Gains
At the start of the domestic session, bonds had actually managed to build on last week's impressive gains, even if only by a few bps. That was a bit of a revelation as we didn't know how much credit to give "defensive positioning ahead of a 3 day weekend" for a portion of those gains. Now that we're
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Bonds Close Out Epic Week of Resilience With Friendly Data
Bonds Close Out Epic Week of Resilience With Friendly Data Friday was a logically friendly day thanks to slightly lower CPI. But no matter what happened on any of the other 4 days, this week was all about bonds ending up at much stronger levels in spite of a jobs report that should have sent rates h
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Mortgage Rates Oh So Close to 3 Year Lows
When the administration announced that Fannie and Freddie would be buying mortgage-backed securities in early January, rates fell sharply to the lowest levels in more than 3 years. After a moderate rebound the following week, we've been holding mostly steady in a range that was 0.1-0.2 above those l
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Not So Fast: January Existing-Home Sales Give Back Decemberโs Gains
Existing-home sales pulled back sharply in January, quickly dashing any hopes that Decemberโs year-end rebound brought, as harsh winter weather and still-tight supply conditions weighed on activity. Sales fell 8.4% to a seasonally adjusted annual rate of 3.91 million, the lowest levels since Novembe
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