No point in wasting time/words on analysis when cause and effect remains so simple. After news regarding potential progress is peace negotiations, an overnight drop in oil prices coincided perfectly with a drop in Treasury yields. The end.
MBS up a quarter point and 10yr down 3.9bps at 4.659
MBS up 10 ticks (.31) and 10yr down 5.5bps at 4.642
No point in wasting time/words on analysis when cause and effect remains so simple. After news regarding potential progress is peace negotiations, an overnight drop in oil prices coincided perfectly with a drop in Treasury yields. The end.