Posted
After the initial spikier responses to this AM's "Dubai Drama" prices are settling into a fairly logical range with recent highs and lows lying within highs and lows from the last two days. Even then, it wouldn't much matter if that range were catastrophically broken given the amount of liquidity and volume in play on Black Friday.
4.5 MBS are up 1 tick at the moment at 102-11. 4.0's are up 6 ticks at 100-03. The 10yr tsy is up 9 ticks, dropping the yield to 3.23. The S&P is almost halfway back to unchanged on the day at 1095+.
We'll get back to you one more time before the early close today...
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