Morning data has been released....
ISM Manufacturing 52.9 vs. 50.5 expected (48.9 previous)
Pending Home Sales +3.2% vs. 2.0% expected (+3.6% previous)
Construction Spending -0.2% vs. 0.00% expected ( +0.1% previous)
Initial reaction negative in rates market, positive for stocks. 10 yr yield up to 3.45%. FN 4.5 MBS coupon now -0-08 at 100-07....
Will TSYs continue to trade strong in face of better than expected data? Watching for bargain buying...
MBS Market Alerts
