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Quick, Small Jump to Weakest Levels; Not Enough For Significant Reprice Risk
Posted to: Micro News
Monday, May 12, 2014 10:26 AM
Bond markets just took a small jump to their weakest levels of the day. As far as causality goes, there's nothing overt behind the more vertical movement in the past few minutes beyond a technical break of the day's previous high yields in Treasuries.
Follow-through on the selling has been minimal, with MBS only 2 ticks lower than the previous morning range. For most any lender, there's no motivation to reprice here, and certainly not any motivation based solely on MBS price movement.
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