February Has Quickly Changed The Rate Outlook

February 21, 2023

Mortgage News Daily, Feb. 21, 2023–Matthew Graham
Heading into the three-day weekend, we knew there was a risk that Friday’s rally was driven by position squaring (i.e. traders buying bonds in order to cover short positions). Heading into the new week, new short positions are back in fashion. While a certain amount of this selling pressure may have been our destiny regardless, it received a clear boost from stronger Eurozone services PMI data.
https://www.mortgagenewsdaily.com/markets/mbs-morning-02212023