|This email was sent to you by:|
Anonymous User |
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 Session Lows. Reprice Risk Already?
Posted to: Micro News
Tuesday, January 29, 2013 11:30 AM
In short, yes... There's reprice risk already. So we'll keep this short. We're not seeing much outside post-Fed-buying volatility in bond markets combined with an intact stock lever pulling yields higher. Maybe we have a bit of a pre-auction concession being built in, but stocks and bonds have been too well-connected since 10am to overlook the "risk-on" stock-lever inspiration.
Fannie 3.0s are now down 4 ticks on the day at 103-11, far enough away from the 103-16 prices that prevailed during rate sheet print times to already introduce negative reprice risk. 10yr yields are up to 1.9758 and S&Ps are 3-4 points higher than their previous resistance ceiling.
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.