MBS ALERT: More Reprices Coming. Stocks and Bonds Selling
Whether your a stock or a bond, you've been selling off hard in the past few minutes. 10 year yields have skyrocketed right past 3.5 and currently sit at 3.55. MBS 4.0's are down to an epic low of 97-07. Stocks crashed into the 1235 mark in S&P's which they had triangled into and broke bullishly on the 10th. It's an out and out bloodbath as year-end liquidity droughts and profit taking drain money from the market like thirsty vampires.
You may have heard whispers of reprices for the worse, here or elsewhere. Now hear the screams...
Don't kill the messenger folks... Buyers are about as in-faschion as my Members-Only jacket and short sellers are breeding with a fertility that puts John and Kate to shame. It's really one-sided.... If you've only seen one reprice so far, expect another unless you JUST received it.