by
Matthew Graham
on
December 30 2008, 9:15 AM
Last week, 101-05 was the lowest closing price in 4.5% Fannie 30yr MBS. As can be observed here: After the selling from late yesterday and this morning, which you can see in the graph below, we are once again at those levels. The weakness appears to be persisting at the moment, and it might be a battle to stay above those levels given the tenor set forth so far today. But it's more likely that the aforementioned battle would be short-lived enough that anyone with a decent time horizon would still