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 Mortgage News Daily
MBS MORNING: Losing Ground As Benchmarks Back Up - 57 minutes ago
Posted To: MBS Commentary4.5 MBS down 6 ticks to 100-26 10yr Tsy about 5bps higher at 3.743 (vs. 5pm yesterday) Wholesale Trade Improves from -.8% to -.2%, but misses expectation of +.2%, no one cares Pre-Auction Concession + range dynamics weigh on 10's, MBS follow The movements in bonds this AM tells us just how focused the market is on the upcoming auction. Granted, the econ data earlier today isn't exactly "top shelf" (or even middle shelf for that matter), but without a microscope, it's hard to tell if it was even traded. The "room to run" that AQ discussed this AM in conjunction with the standard pre-auction concession is dominating the movements in the benchmark, which itself, is forcing MBS prices lower. Somewhere between an eighth and a quarter of a point has left the YSP building...(read more)Forward this article via email: Send a copy of this story to someone you know that may want to read it. |
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Mortgage Links
2043 Richmond Ave
Staten Island, NY 10314
Office Phone: (718) 494-8300 Fax: (718)-494-0900 Infomation: Scott@mtglinks.com
Cell: 718-664-0741
Direct: 718-966-4000
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