The latest release of the minutes of the Federal Open Market Committee were released today. See here.
This is the meeting where they decided not to tamper. The link below takes you to a chart that shows what happened in the bond market after the release. You can see the impact of the release as the rate went from 3.8% to 3.9%. You can click through the various time ranges at the bottom of the chart. The gold horizontal lines represent “resistant lines” which are the highs and lows of the time period in question. Technical analysts see resistance lines as something that contains the range of market prices. However, if the resistant lines are breached then they believe it triggers an eventual price movement up or down to the next resistant lines. Stock markets also turned slightly negative at the announcement. Could be trouble for the mortgage market ahead. 30 Year Bond Quote (interest rate)
