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Posted To: MBS Commentary

Last Friday's jobs record intended business (bad business for low prices ). Although Powell told me that one jobs report wouldn't alter the risks s congressional testimony, that wasn't sufficient to get bonds from the workplace. Wednesday was their least successful day of the week concerning selling, but it was right back to business and then some on Thursday. All told, 10yr yields transferred from 1.94 lows last Friday to 2.15 highs yesterday. That was enough to make this the worst week since at least April, and that is predicated on Friday's CLOSING levels. We have to go back farther When we look at Thursday vs Thursday time frames. Today's session was in Excellent position to dog-pile on the selling…(read more)