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Knee Jerks Starting to Even Out; MBS in Positive Territory
Posted to: Micro News
Wednesday, June 18, 2014 2:16 PM
As liquidity returns to MBS screens, they've fallen more in line with the Treasury market's post-FOMC trade. 10yr yields are down to 2.628, a bit better than the morning range and MBS are behaving similarly, now up 7 ticks at 101-30 in Fannie 3.5s. This is not negative reprice territory. Knee jerks grow increasingly less likely from here, but become a risk again during Yellen's press conference.
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