Another Solid Start, But Without as Much Help From Oil

Until the end of the Iran war, bond traders are keeping oil prices on their screens and comparing oil price movement against bond market movement as the first task on the daily checklist. In so doing, we see a bit of outperformance on the part of bonds this morning. While there i

Simple, Strong Correlation With Oil Leaves Yields Lower

Simple, Strong Correlation With Oil Leaves Yields Lower There's no sense in overcomplicating today's trading session. Oil was down significantly and so were bond yields. The correlation was very strong after 4am ET with each major peak and valley aligning. Econ data was present, but not a relevant c

Mortgage Rates Recover Modestly From 7-Month Highs

Mortgage rates are based on bonds, and bonds spent last week bracing for the impact of higher energy prices. In the bond world, higher inflation begets higher rates, all else equal.  Oil prices remain elevated, but fell more than 5% on Monday. The bond market responded with a drop in Treasury y

Processing, Bridge Loan, Non-QM Products; News and Oil Prices Point to a Fed Hold; "Tip to Tail" Wave

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