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Pulse On The Market: Danger Zone Week Of August 1st

Pulse On the Market: Danger Zone week of August 1st

warningDanger Zone
Interest Rates moved higher today after hitting the lowest levels in roughly 2 weeks last Friday.  But there was some weakness in underlying bond markets that didn’t make it through to increased rates and in other words, unless bond markets stage a rally rates will be moving higher.
I was cautious last week waiting for clear evidence that the recent trend of improvement had ended and in considering these trends, we can use certain key levels in bond markets.  The key level most have been following on “MBS Live” is 1.52% in 10yr Treasury yields, which is exactly where today ended.
More simply put, we’re right on the edge of the danger zone; expect higher rates soon…
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