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Drifting Out at Best Levels; Nothing to Report
Posted to: Micro News
Thursday, December 26, 2013 4:15 PM
It's been a completely uneventful session all day long. That doesn't show signs of stopping as we head into the final hour. If anything, MBS have been leaning more toward gains as the day has progressed, but we're talking about the differences of only a few ticks between highs and lows.
Volume has been so low that we can't draw any conclusions about trends beyond today. This is also likely to be the case tomorrow and possibly even through next week as NFP doesn't hit until January 10th. That week, and especially the week that follows, will be when more normal conditions return.
Fannie 4.0s are currently up 3 ticks (3/32nds) on the day at 102-28. 10yr yields are up 1bps at 2.9924 and did hit 3.011% briefly earlier today.
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