Posted
....but still stuck in a range
Headline news is all quiet at the moment and equity markets
aren't making much noise...so fixed income market participants have taken the
opportunity to bake in a few more "supply
to come" bps into TSY yield curve. Unfortunately production MBS is losing relative value
and bids are adjusting accordingly (MBS prices lower).(Production MBS = what loans you close)
MBS prices are however off their lows of the day and worries
of a re-price for the worse have faded.....range trading continues while
markets deliberate on their own fate.
FN30__________________________________
FN 4.0
-------->>>> -0-05 to 99-01
from 99-06
FN 4.5
-------->>>> -0-04 to
101-02 from 101-06
FN 5.0
-------->>>> -0-00 to
102-13 from 102-13
FN 5.5
-------->>>> +0-01 to
102-29 from 102-28
FN 6.0
-------->>>> +0-01 to
103-13 from 103-14
GN30____________________________________
GN 4.0
-------->>>> -0-04 to 99-06
from 99-10
GN 4.5
-------->>>> -0-02 to
101-10 from 101-12
GN 5.0
-------->>>> -0-02 to
102-22 from 102-24
GN 5.5
-------->>>> +0-00 to
103-07 from 103-07
GN 6.0
-------->>>> +0-00 to
103-17 from 103-17
Has the worse passed or is their MORE NEGATIVITY yet to come? Are we stuck in a spiral already?What/Who is the next receipt of Government Money?
Protectionism is killing capital accumulation!
Secondary Marketing Managers and Capital Markets Desks, if you are interested in subscribing to the same fixed income and mortgage market data we use:
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