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First Move Following FOMC is MUCH Weaker For Bond Markets
Posted to: Micro News
Wednesday, March 19, 2014 2:04 PM
Bonds and stocks are both having a hard time accepting new uncertainty introduced by the Fed's dropping of the threshold language (which was expected). This is the sort of knee-jerk that could just as easily be unwound by the end of the day, but for now, the first move is sharply lower for MBS Prices.
Fannie 4.0s are down 14 ticks at 103-31, and negative reprices are all but a certainty if we remain here for more than a moment or two.
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