Weaker Start, But Traders Buying The Dip
Big picture momentum has been calmly but clearly skewed toward higher yields for almost 10 months. There have been a few attempts to bounce at technical ceilings along the way up from 4.0% 10yr yields (4.3%, 4.42%, and 4.75%). August has been mostly sideways near the longer-term highs, but the first
Global bond slump sends long-term borrowing costs to highest in decades
While domestic factors have a role in each market, fears that persistent geopolitical turmoil will make economies more prone to supply shocks and inflationary pressures are driving up yields.
Refinances lead to early-year surge in mortgage defects
The overall defect share saw the largest jump in four years, as changes in mortgage rates brought a shift in volume mix, according to ACES Quality Management.
Pamela Heman
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