Broadly Sideways Despite Intraday Volatility Shorter term bonds lost ground today while longer term bonds and MBS managed a modest victory. While this isn't really a victory considering the mixed performance, it was better than a sharp stick in the eye. Moreover, MBS were able to outperform--something that is not at all uncommon on the first […]
In not so many words, last week's thesis was that "no news was good news" for mortgage rates. Specifically, an absence of major, unexpected developments on the topic of tariffs and trade helped the underlying bond market retrace some of the recent steps. Those steps resulted in the highest rates in several months and one […]
“My boss pulled up in his brand-new BMW today and I couldn’t help but admire it. “Nice car,” I said as he got out. “Well,” he said, noticing my admiring looks, “Work hard, put the hours in, and I’ll have an even better one next year.” A relationship with one’s boss is an interesting thing. […]