Bids are deteriorating. MBS is outperforming the steepening TSY curve (spreads are tightening). Unless lenders bear the brunt of these losses rate sheets will be worse this AM
915AM Marks...
Since 3pm Close yesterday
FN30______________________________
FN 4.5 -------->>>> -0-09 to 100-27 from 101-04
FN 5.0 -------->>>> -0-07 to 101-30 from 102-05
FN 5.5 -------->>>> -0-05 to 102-15 from 102-20
FN 6.0 -------->>>> -0-03 to 103-07 from 103-10
GN30______________________________________
GN 4.5 -------->>>> -0-11 to 101-08 from 101-19
GN 5.0 -------->>>> -0-07 to 102-15 from 102-22
GN 5.5 -------->>>> -0-06 to 102-28 from 103-02
GN 6.0 -------->>>> -0-04 to 103-14 from 103-18