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Posted To: MBS Commentary
Global markets caught a glimpse of a world with yields above 3 percent in 2018 that was late, and they didn't enjoy it. A mix of stock selling and Fed accommodation (a sequence of events, actually ) helped speeds move swiftly back in another way in 2019. A new question: ‘ are rates justified in almost any reduced if there ' s a possibility that the market isn ' t circling the drain is prompted by this movement? Such a question depends on exactly how good chances are. Back in late March when we’d unbelievably weak European financial data follow hard on the heels of the Fed's surprisingly bond-friendly choice –one fueled by fears of a weakening global economy–chances were as high as they've recently been some sort of drain was being circled. This logically coincided…(read more)