The market is back to its old tricks, trading on money flows, concern, and anxiety. Forget the fundamentals and chart work, this baby moves where ever it wants to. Traders refer to this as being only a good (making correct calls) as the last tic! Currently, the 10 year note is up 15/32’s, trading at a yield of 3.71%. Mortgage backs are plus 4/32’s on the day. All of this in the face of 37 billion dollars of 3 year note supply. This is completely against conventional wisdom. Stocks feeling the second day of pinch, down 75 points on the big board.
Traders refer to this as being only a good (making correct calls) as the last tic!
About the Author: Max Leaman Austin Mortgage
Great Rates, Low Fees, Close on Time® – (800) 301-3405 Since 2001, Leaman Team has helped clients to purchase, refinance and renovate. The biggest distinction between lenders is their honesty, customer service, and ability to close on time.
September 28, 2018
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April 27, 2017