Posted
Nov 20 2008, 09:59 AM
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.