That Escalated Quickly, But MBS Recovered Fairly Nicely

After weeks and weeks (6, to be specific) of extraordinarily calm and narrow trading ranges in ultra-low-yield territory, the bond market has suddenly decided it's time to jump back up toward higher yields. The move is fairly large, abrupt, and serious.  It was made all the more serious by the most terribly botched NFP forecast in history.  So are the good times over?


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