|This email was sent to you by:|
Mortgage News Daily
Email alerts, such as this one, are a free service
provided by Mortgage News Daily. If you would like to receive an alert when important news breaks
please register to join our community
Back into Positive Territory after Stock Open
Posted to: Micro News
Tuesday, May 20, 2014 9:59 AM
From the slightly weaker levels at 9am, MBS and Treasuries are now into positive territory following a moderately-sized, but fast move lower for equities markets after the 9:30am open. Before that, an exhaustion of selling pressure in European bond markets helped US bond markets find their footing before losing too much ground.
Fannie 3.5s are now up 3 ticks on the day at 102-07 and 10yr yields are down .75bps at 2.53. In both cases, these are short term inflection points from yesterday's biggest bout of weakness. Breaking through would be a positive comment for the rest of the day. No dice so far.
('Breaking through' would imply Fannie 3.5s moving over 102-08 and 10yr yields under 2.527, preferably with confirmation by a move into the 2.51's).
More from MND:
If you would like to opt-out of receiving email forwards from this person please click here to remove your email address.