This is one of four videos, by my favorite financial YouTubers, that I watched yesterday, after The Fed hiked interest rates 3/4%. While the whole video is interesting (if you're into financial stuff), one thing really caught my ear. He says in this video that MBS (Mortgage Backed Securities) went "no bid" last weekend, and the mainstream media isn't talking about it, because nobody's quite sure what to make of it.
I found this article this morning, by "Tyler Durden," but naming the longtime bond broker whose thoughts are shared. This goes way into the nuts and bolts of bond trading, over my head, but basically, last weekend NOBODY wanted to buy the Mortgage Backed Securities offered up, because of all the uncertainty in the financial world. The broker in the article goes into why this is one of the 5 moments in a 40+ year career that really stands out. That's not good. This is the first info I've found on this issue, and I'm not sure what it all means, but it's a sign things will get a lot crazier pretty quick, from the sounds of it.
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