No Surprise: It Was a Trap
If there's been a safe bet to make on isolated rally days over the past 2 months, it's that they'll be soon followed by a return to the prevailing trend toward higher rates. Today fills that role with gusto. We hate gusto--this kind anyway. Unfortunately, this kind of gusto is all we have, and there
Traders reload bets on higher US treasury bond yields after brief jolt
Citigroup Inc. strategist David Bieber said the market's posture toward Treasuries continues to be at "extreme short" levels, showing that an "extended short bias" persists.
The return of the specialist: Why a more fragmented mortgage market favors active management
Cross-sector relative value, from agency MBS to whole loans and RMBS, can persist as mandates limit capital mobility
Pamela Heman
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