Years on a trading desk and hedging locked pipelines teaches one that different things move bonds at different times. Right now, rates are still being driven by pandemic news… Yes, rates went up yesterday and this morning, but up until then, many analysts found it odd that the bond market, which drive mortgage rates, continued to seem to shrug off inflation news. The old adage, “Don’t fight the Fed” is true.
Account required
Keep reading with a free account
Daily Commentaries older than 30 days are available to registered readers.