George Goncalves
George Goncalves
good indirect interested though
Dealers weren't that interested even though we had good indirect bidding.
brings energy
It brings it back to oil. As long as energy is making new highs, Treasuries will rally.
empire pressures report selling state stayed strong
The Empire State report was strong ... and the selling pressures stayed there.
beginning bulk
Mortgages had been richening up for the bulk of the beginning of year.
economic fed people
As people read the economic numbers, they know the Fed is still there.
close float home money rates wait
As rates float higher, it's better to keep your money close to home and wait for better opportunities down the road.
increase mostly portfolio rich securities super type using
Mortgages were super, super rich in February. It made sense for them not to increase their portfolio using mortgages, but they did increase it, and it was mostly floating-rate type products, mortgage-related securities and those kind of asset-backed products.
investors movement short stay
We're recommending investors stay short because we think there's more movement to the downside.
normally push rates supply traders
Traders normally try to use the supply story to push rates higher.
carrying lifted rally relief weight
We had a relief rally on the back end yesterday, and it's carrying through to today. Plus, with the refunding out of the way, it's lifted a weight off the market.
carrying rally relief yesterday
We had a relief rally on the back end yesterday (Thursday), and it's carrying through to today.