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Bond Markets Weaker Following 10am Data
Posted to: Micro News
Tuesday, September 03, 2013 10:03 AM
After stronger-than-expected ISM Manufacturing and Construction Spending numbers, the first move is DOWN for MBS and up for Treasury yields. 10's shot up to 2.885 from under 2.84 before the data and Fannie 4.0s are following the move weaker. Lenders that were already out with rate sheets are already facing some negative reprice risk.
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