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Bond Markets hit Best Levels in 2 Months
Posted to: Micro News
Wednesday, January 29, 2014 1:00 PM
Treasuries have inched down to their lowest yields, and MBS to their highest prices in just over 2 months. The gains arrive in the absence of any significant inspiration. Interestingly enough, the Turkish Lira--a poster child for the emerging market sell-off--hasn't participated in this latest move.
10's fell briefly to 2.70 from previous lows of 2.706. They're currently back at 2.708, 4bps lower on the day. Fannie 4.0 MBS are 9 ticks higher at 104-20. Positive reprices are only possible based on the stability of the day's gains. Most lenders released rate sheets after the morning rally, meaning that prices aren't much higher--if at all--from rate sheet print times.
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