MBS Day Ahead: Technical Levels Under Attack Regardless of Data

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MBS Day Ahead: Technical Levels Under Attack Regardless of Data

Posted to: MBS Commentary
Friday, March 31, 2017 9:07 AM

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While there are several economic reports that have market-moving power today, the bigger issue for bond markets may be the technical battle that’s been fought at 10yr yields of 2.42% all week. This has been a very central pivot point for the 2017 range, and yields have broken or bounced there on 8 of the last 9 days.

Sidenote: the word “broken” in the previous sentence does indeed refer to yields moving above 2.42%. Why, then, are we talking about it as a ceiling still? Because when it comes to technical analysis of “breakouts,” the break of the line itself is…

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