gets: The Week Ahead: FOMC Minutes And Jobs Data - 04/02/12 04:05 AM
Bond markets coasted into Friday afternoon in eerily stable fashion, and seemed set to head out for the weekend in significantly better territory than one week earlier. But after failing to make more convincing gains and on the heels of a few big trades, snowball selling hit Treasuries hard, bringing MBS along for the unpleasant ride. In about an hour, half of the week's gains were gone.
Those precipitous losses will probably end up looking like one of two things by the end of this week: month-end/quarter gyrations (traders adjusting positions at the last minute) or a technical bounce off a … (0 comments)

gets: MBS RECAP: Calm, Positive Morning Gets Rolled Over By Snowball Selling - 04/02/12 04:00 AM
Things could have gone either way into this month-end/quarter-end trading day, either running out of steam at recent highs (or lows in TSY yields) or extending recent gains just a bit more to reach a potential range boundary around 2.10% in 10yr yields. We ended up getting the "running out of steam" option, and what had been an exceedingly calm session at improved prices quickly got ugly. A few big sellers flushed out a small flood of hold-outs who'd been waiting to hit that magical 2.10% or at least 2.13% range boundary. Those first two over-sized snowflakes were all that was … (1 comments)

 
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