We had a great day today.

More volatility than we've seen, but MBS kept it's recently acquired strength through the close, and as stocks sold, our spreads tightened and prices improved, leaving the 6.0 up 6+ ticks on the day at 100-23.

Many lenders likely did not pass on those gains, so make sure to take note of which lenders got you a late day price improvement and which did not. Those that did not likely will be coughing up the YSP on Monday assuming prices hold unchanged.

The promise of TARP is still an echo on the wind although one can't help but surmise that rumors of it's legendary prowess are, at least in part, cause for MBS uncharacteristic strength. It could be continue to trickle in, or we could have some "back and forth." whatever the case, it will come and the only result of adding money to the mix will be more bid for worthy paper. With an explicit government backing and numerous other recent enhancements, MBS are worthier than Wayne and Garth, and the world is beginning to realize it

We had a fantastic session on MBSLive today, which is the beta version of our live data. If you didn't make it, the consensus is you missed out on a fun and eventful day. To catch up with us on monday, send us an email saying "MBSLIVE" and we'll send you login info for monday's interactive session. (the hyperlink above is already pre-populated and ready to send. Just click that link, click send, and you're done, unless you want to grace us with some impromptu humor or laudation, then by all means...)

Everyone be thinking positive thoughts over the weekend for what we hope will soon be a uTARPian paradise.