MBS MID-DAY: Trading Near Best Levels in Low Volume

Posted To: MBS Commentary

The day has been woefully uneventful so far, at least with respect to what it might have been… Rather than get any sort of meaningful “vote” from market movements as to which way the momentum will shift, we’re left with what’s shaping up to be a mostly sideways day. We’re thankful that it’s at least one of those sideways days that leaves bond markets in slightly better territory. Fannie 3.5′s have explored 103-00+ prices on several occasions and 10yr yields have tested below 2.15 a few times. We’d say that 10′s holding support at 2.16′s would basically be a non-event, and MBS wouldn’t much care. In other words, unless 10yr yields break 2.168 or 2.147, the day is over. Open MBS Live Dashboard FNMA 3.5 103-00 : +0-03 FNMA 4.0 105-02 : +0-02 FNMA 4.5 106-16 : +0-00 FNMA 5.0 108-04 : -0-01 GNMA…(read more)

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