Here we go again! Can you feel it now? Are we headed back down to 5.5 PAR?
Well, not today of course, but stocks, they are a slidin' and that, in conjunction with tame inflation (which we got), was one of our two prerequisites for MBS to defy the market buzz and move higher.
So higher we go with 6.0's up a massive (compared to this morning) 13/32nds! That's 100-26! Keep in mind, this just jumped up from 7/32nds in 5 minutes, so it may moderate, but so far, no signs of a quick reversal.
Reprices are probably coming again (for the better). Even if we reverse course and they don't come, if you didn't lock last night, keep floating...