|This email was sent to you by:|
Harry Chriest |
Mortgage News Daily
Email alerts, such as this one, are a free service
provided by Mortgage News Daily. If you would like to receive an alert when important news breaks
please register to join our community
MBS Hit Lows, But Holding Sideways In Quiet Trading.
Posted to: Micro News
Monday, January 14, 2013 1:01 PM
Without much by way of headline cause & effect, bond markets have leaked into their weakest territory of the day with 10yr yields pushing the mid 1.86's and Fannie 3.0's down to 104-10, 4 ticks from their earlier highs.
Both MBS and Treasuries weakened somewhat during Obama's address which centered on the upcoming debt ceiling debate, but several Fed speeches were also out during that time, perhaps giving markets a bit more to consider ahead of Bernanke's speech tonight.
Current levels are probably best-viewed as a sort of line in the sand. At or above these prices, reprice risk is minimal, if it exists at all. It could begin to increase if we dip to 104-09 or below. All that having been said, markets aren't terribly active and trading hasn't been terribly directional--prefering instead to grind sideways at these lows of the day (lows that are still 2 ticks better than Friday's close).
More from MND:
If you would like to opt-out of receiving email forwards from this person please click here to remove your email address.