Posted by: cfigueira | March 23, 2010

Bond Market Seeks Guidance After Range Bound Session

Posted To: MBS Commentary

Yowza! What a boring day! Remember earlier today we started talking about various technical levels in MBS, treasuries, and stocks? 101-02, 3.66, and 1166 respectively? Here’s how the day shook out: You might think I’m calling this to your attention to set up my favorite joke about “what has two thumbs and and can predict the future?” (then with thumbs to my chest, a resounding: “This Guy!” Admittedly, the joke loses a bit when not told in person. OK, ok, ok… so it loses everything, but still!). But that’s not my goal here… My goal is to convey just how boring today was. The term “range-bound and waiting for guidance” doesn’t even begin to describe it. “Low volatility and narrowing prices ahead of _ <insert important data event here>…(read more)

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