Posted
Current MBS Price and Day Over Day Change:
FN 5.5 30YR MBS = 100-15 .... +0-14 (14 ticks)
Philly Fed Survey:
- Down 39.3 versus prior reading of -37.5. Worse than consensus of -35.0
Leading Indicators
- Down -.8% versus consensus of -.6%
So Far no appreciable reaction in MBS which had been trading in the 100-15 range previously.
Stocks are at 7833 in the Dow. Oil remains around 50 bucks a barrel. Tsy's continue to be much better bid than MBS, so be wary of a turn around today damaging good gains in MBS.
If you are in a short term position, we're waiting for a majority of this AM's gains to be priced in and then we'll consider taking those gains as we are at the top of our 1 month trading range. However, if we manage to close above our topside resistance, it could bode well for things to come. Stay tuned... Looks like a potentially bumpy ride over the next few days.
Mortgage Bankers, Secondary Marketing Managers, and Capital Markets Desks, if you are interested in obtaining access to the same fixed income and mortgage market data we use:
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