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Rate sheet influential MBS have been jolted from their recent range by higher stock indices and a rise in benchmark yields. The S&P is at an intraday high of 897 and the benchmark 10 yr TSY note yield has risen to 3.34%. Consequently, the FN 4.5 has fallen to 100-10 from 100-17, which would be enough...
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Before beginning, I’ll point out that everything in this column is true and accurate; I’m not a fan of playing tricks on loyal readers. However, I think it’s appropriate to share one of my favorite aphorisms for the day, a quote from Murphy’s Third Law: “Nothing is ever...