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Mortgage News Daily combines the expertise of some of the housing industry's leading minds with the power of social media to offer an always lively, constantly evolving web community. MND communicates breaking news, streams video, and provides expert opinion and commentary to a community of interested market professionals and curious consumers.MBS LUNCH: (Alert?) AUCTION RESULTS
Auction bullet points:
- $44 BLN 2-YEAR NOTES AT HIGH YIELD 0.802 PCT, AWARDS 95.78
PCT OF BIDS AT HIGH
- BID-TO-COVER RATIO 3.16, NON-COMP BIDS $416.6 MLN
- PRIMARY DEALERS TAKE $22.08 BLN OF 2-YEAR NOTES SALE,
INDIRECT $19.36 BLN
After the results, MBS sold off 4 ticks or so, nothing major. Tsy yields in the long end had already conceded up to around 3.4, and so only moved marginally higher before joining MBS for some moderation.
Said moderation has made for more or less unchanged levels from pre-auction trading. Here's how it all looks..
[Image or graph removed from email. View full article with images]
So this is why we advise more patience than you might want to have following auctions... The first move down was quasi alert-worthy, but now we may be headed back to test the resistance in more positive areas of the day. Stay tuned!
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This email was sent to you by:
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Mortgage News Daily
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Anonymous Anonymous |
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Message:
YOUR MESSAGE HERE
MBS LUNCH: (Alert?) AUCTION RESULTS
Auction bullet points:
- $44 BLN 2-YEAR NOTES AT HIGH YIELD 0.802 PCT, AWARDS 95.78
PCT OF BIDS AT HIGH
- BID-TO-COVER RATIO 3.16, NON-COMP BIDS $416.6 MLN
- PRIMARY DEALERS TAKE $22.08 BLN OF 2-YEAR NOTES SALE,
INDIRECT $19.36 BLN
After the results, MBS sold off 4 ticks or so, nothing major. Tsy yields in the long end had already conceded up to around 3.4, and so only moved marginally higher before joining MBS for some moderation.
Said moderation has made for more or less unchanged levels from pre-auction trading. Here's how it all looks..
So this is why we advise more patience than you might want to have following auctions... The first move down was quasi alert-worthy, but now we may be headed back to test the resistance in more positive areas of the day. Stay tuned!
If you would like to opt-out of receiving email forwards from this person please click here to remove your email address.