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MBS Snap Back from Morning's Weakest Levels
Posted to: Micro News
Monday, June 30, 2014 10:41 AM

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The trading day has yet to fully make up its mind, but the most abject weakness has subsided for now, with MBS back into positive territory on the day.  Fannie 3.5s are up 1 tick at 102-25 after hitting 102-22 just after 10am.

This goes a long way toward lessening or even removing the negative reprice risk that had been building as we hit those lows.  Much like the weakness didn't line up with any specific headlines, neither does this bounce.  On that note, keep in mind that it's the last day of the month and quarter, which often results in some inexplicable but determined trading on both sides of the equation.




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