MBS AFTERNOON: Short Covering Induced Recovery Rally?
Posted To:MBS Commentary
Heeeeeeeading into 5 pm “going out” marks…..there is not much I can tell you to stem the frustration of being in the float boat. That of course assumes you are out to sea (without a sail). For those of you who have locked up and are pending a CTC….I hope our commentary is colorful enough to draw your attention from last minute holiday preparations (or clean up if you've had eight crazy nights already). Sorry, got a little distracted there…like I was saying: Yawn. The 0.75% coupon bearing 2 yr TSY note is -0-02 at 99-22 yielding 0.905%. The 3.375% coupon bearing 10 yr TSY note is -0-17 at 96-30 yielding 3.746%. The yield spread between the 2yr TSY note and 10yr TSY note…which is slightly firmer than the 286bp record that was set earlier today). Here are 10s…see what I…(read more)
This mortgage update is brought to you by: Adam Quinones – You can read the full article at MBS AFTERNOON: Short Covering Induced Recovery Rally?
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