Yellen ain’t Yelling…
Quite the contrary, she commented today that nothing would lead the markets to believe there would be a June rate hike. MBS have responded nicely, but are bumping up against resistance, so you should see some gains this afternoon, but it may be wise to lock into those. The 10 year treasury has also dropped below 2.02, it would be great to see it close below that level. Lots of data yet to come this week that could be market moving.
