- Volume moderately higher than 30 day average
- Subdued supply + flattening yield curve = Happy MBS
- 5.0's back in "the zone"
- steady buying led by Fed and Money Managers
The AM So Far...
- Testing suggested support from yesterday (see chart below) as early AM trading mirrors yesterday's (weak start)
- 5.0's currently down 6 ticks to 101-16. 4.5's down 4 ticks to 99-15
- Waiting on CPI to be out shortly
- Dr. Ben at 9AM
- MBA says purchases down 3.5% and refi's down 23.3% last week.
Stay tuned as current price levels are important.
(update inserted at 8:36AM... CPI in. core up .1%. fixed income likes it. bounce lines bounced. back in line with yesterday's closing levels. stay tuned for AM post)