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Yields Following Stocks Higher; 10's at Weakest Levels, but MBS Outperform
Posted to: Micro News
Monday, February 24, 2014 11:50 AM
MBS are hanging just a bit tougher than Treasuries at the moment as the latter just hit session highs. Yields have been fairly well glued to stocks since cash trading opened at 9:30am. That said, none of the moves are excessive. For example, "up to 2.748 from 2.734 on Friday" seems a bit less dire than "weakest levels of the day."
MBS are still a few ticks above their lows earlier this morning with both 4.0s and 3.5s down only 1 tick on the day. In short, this isn't a reprice risk situation--just a heads up that 10's are bumping against their ceiling for the day. If they break higher, MBS would probably do more to follow.
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