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Bond Market Hit Best Levels On Cyprus Exit Rumors
Posted to:
Micro News
Tuesday, March 19, 2013 10:50 AM
Though there are no confirmed statements, the Cypriot Central Bank is rumored to have said that it will leave the Eurozone if a bailout bill isn't passed. This isn't far from most market participant's expectations, but is still having a headline-shock effect pushing Treasuries and MBS to their best levels of the day, sapping the Euro and Equities' prices.
It could be a knee-jerk that bounces back when more clarity arrives or it could be extended by said clarity. Whatever the case turns out to be, 10's are currently down to 1.913 and Fannie 3.0s are up 6 ticks to 103-04. S&P's are off roughly 6 points from opening levels. Lenders that priced early may soon consider positive reprices if current levels are held or improved upon.
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Bond Market Hit Best Levels On Cyprus Exit Rumors
Posted to:
Micro News
Tuesday, March 19, 2013 10:50 AM
Though there are no confirmed statements, the Cypriot Central Bank is rumored to have said that it will leave the Eurozone if a bailout bill isn't passed. This isn't far from most market participant's expectations, but is still having a headline-shock effect pushing Treasuries and MBS to their best levels of the day, sapping the Euro and Equities' prices.
It could be a knee-jerk that bounces back when more clarity arrives or it could be extended by said clarity. Whatever the case turns out to be, 10's are currently down to 1.913 and Fannie 3.0s are up 6 ticks to 103-04. S&P's are off roughly 6 points from opening levels. Lenders that priced early may soon consider positive reprices if current levels are held or improved upon.
If you would like to opt-out of receiving email forwards from this person please click here to remove your email address.