Register or Sign in        Email This Page     Link To This Page    
Visit MND at MBA in NYC!
# of Forum Posts

Send Article via Email

Can forward to 6 email addresses at a time. Register or Login

Registered users also get the additional advantage of Co-branded Emails and Landing Pages. Learn more about these features.

Your Name: 
Your Email: 
I want to forward this to
(Enter Email Address Below) :
Include a Personal Message (optional)

Please add 4 and 6 and type the answer here:
Leave this field blank.
Email Preview Below:
This feature is now 100% free. Learn More About Co-branded Email and our other Co-branded Services.
This email was sent to you by:
Anonymous |
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.
Strong 30 Auction, Indecision Giving Way To Positivity
Posted to: Micro News
Thursday, February 14, 2013 1:18 PM

Forward this email:  Send a copy of this story to someone you know that may want to read it.

Treasury volumes climbed steadily leading up to the auction as fast money accounts (leveraged, tactical, hedge-fund types), covered shorts from 12:40 right up to 1pm. The results were strong with bid-to-cover well over recent averages (2.74 vs 2.6) and the yield award 0.4 bps lower than the 1pm consensus (or the "when-issued" yield levels).

Traders quickly bid the long end up just slightly after the result, but then sold it again,just below the levels at which the earlier short-covering rally began. MBS had already moved up to 102-27 (+0-08) ahead of the auction and are still there, as Treasuries attempt to figure out which way they're headed.

After the sufficient head fake for fast money profit taking, the yield trajectory is heading down again now (we think?). In any event, WI 30's just hit their lows, 10yr yields hit their lows moments ago, breaking resistance, and all of the above should help MBS do the same. This paves the way for potential positive reprices if maintained into the afternoon.

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.

Forward this email:  Send a copy of this story to someone you know that may want to read it.


More From MND

Mortgage Rates:
  • 30 Yr FRM 3.63%
  • |
  • 15 Yr FRM 2.92%
  • |
  • Jumbo 30 Year Fixed 3.60%
MBS Prices:
Recent Housing Data:
  • Mortgage Apps 10.03%
  • |
  • Refinance Index 11.33%
  • |
  • Purchase Index 8.43%