Economic Uncertainties and Technical Factors Help Rates Extend Rally
Posted To: MBS Commentary
"Rate sheet influential MBS bid higher but lagging benchmarks greatly Stock Lever's influence is obvious Economic uncertainties and technical resistance keep stocks grounded S&P futures -20.50 art 1178. Range bound for most part Dollar Index: +.846 at 83.118 NYMEX Crude: -2.35 at 83.84 Good Morning All. While Japan is out until Thursday, China and London began their work week by selling stocks and buying dollar denominated U.S. Treasuries last night. The HANG SENG was down 0.23%, the SHANGHAI Composite was 1.23% lower, the CAC in Paris is off 2.29%, the DAX in Germany is 1.83% in the red, and the FTSE in London is 1.61% underwater. The stock lever's influence on interest rates is obvious…stocks down, interest rate prices up. WHY???? A confluence of logic. The Euro is at a…(read more)
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