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Bouncing Along Weakest Levels; Reprice Risk Contained for Now
Posted to: Micro News
Wednesday, December 11, 2013 10:50 AM
Fannie 4.0s are down 6 ticks on the day, and roughly four of those have come since the first rate sheets of the day. That puts us right on the edge of entering negative reprice risk territory for the most price-sensitive lenders, but support is holding so far. There is no data and no events behind the move other than potentially the trading of yesterday's budget headlines. 103-19 in Fannie 4.0s would be where negative reprice risk picks up.
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