Quick Update while I finish the morning post. MBS stack is in the green today but spreads are WAAAAAAAY wider as the TSY curve rallies on fears of global recession . In other words MBS is getting outperformed by the yield curve(in low end of stack).
1030 marks...
FN30__________________________________
FN 4.5 -------->>>> +0-12 to 101-04 from 100-24
FN 5.0 -------->>>> +0-11 to 102-07 from 101-28
FN 5.5 -------->>>> +0-07 to 102-22 from 102-15
FN 6.0 -------->>>> +0-03 to 103-11 from 103-08
GN30__________________________________
GN 4.5 -------->>>> +0-10 to 101-17 from 101-07
GN 5.0 -------->>>> +0-13 to 102-27 from 102-14
GN 5.5 -------->>>> +0-07 to 103-04 from 102-29
GN 6.0 -------->>>> -0-04 to 103-12 from 103-16
Rate sheets are better this AM...
I know I know...you want a better explanation of what I mean when I say the "Yield Curve Outperforms" right? Start off by reading THIS FROM THE KNOWLEDGE BASE