Posted To: MBS Commentary
Bond markets are slightly weaker from Friday’s latest levels as the Greek bailout that has been the markets focal point for several weeks, was technically approved early this morning in Europe (yesterday evening in terms of EDT). The initial announcement hit just before 7pm last night and there was a predictable jolt of volume and move higher in yields for bond markets. Slightly surprising however, was just how limited the weakness was. We could have easily imagined that 10 yr yields, for instance, might see fit to revisit some of their recent highs, but they never broke 2.05, while yields were several bps higher on 2/9, and slightly higher still in late January. Here’s a good overview of the bailout details from Reuters : (Reuters) – Euro zone finance ministers sealed a 130-billion-euro (…(read more)
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