A range trading theme has dominated the bond market since the most recent high yield on December 10th and the most recent low the following day. 100% of trading since then has fallen inside those boundaries (4.10-4.20% in terms of 10yr yields). Even though volume has made a resounding post-holiday return, there's little for market watchers to do until we see a breakout. Wednesday and Friday's econ data continue to be the best bets as far as catalysts go.
Mortgage Rates Modestly Higher on Thursday. Friday’s Risks Are Bigger
Mortgage rates were just a hair higher for the average lender on Thursday. The underlying bond market lost some ground following a stronger weekly Jobless Claims report and in sympathy with global bond market weakness overnight. Because rates are…