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Heading into the 5pm " 24 hours from now Melky Cabrera will be signing autographs at the Macy's in Herald Square " marking period...the FN 4.0 is trading +0-02 at 98-19 yielding 4.146% and the FN 4.5 is +0-02 at 101-05 yielding 4.359%. The secondary market current coupon is 4.253%. That quote has no relevance at all to the mortgage market. More than anything I found the following Macy's sales marketing strategy very sneaky. Apparently, you can have your picture taken with Melky as long as you are one of the first 250 people to buy at least $50 in Yankees championship gear!!! Good gimmick Macy's, good gimmick. As you can see below, the FN 4.5 has been slowly, but steadily, losing ground into the afternoon... Several lenders have already repriced for the worse... Over on...