Mortgage Rates Move Slightly Higher

2nd Straight Day of Losses. Blame Data or Stocks? We already saw the end of the bond market's 9 day winning streak with yesterday's big mid-day reversal. Today makes it extra official with modestly weaker close.  That may not have been our destiny.  In fact, at 9:59AM ET, it looked like yields were happy to push back toward Tuesday's lows, but things changed after the 10am ISM data. While it's clear that ISM sent yields quickly higher, the rest of the day's trading is a matter of debate or perspective. The key question is whether bonds would have lost as much ground as they did had it not been for a stock market recovery. Probably not, but the