The MBS stack remains in a tight range as the yield curve gyrates and shifts....

1315pm marks...

FN30__________________________________

FN 4.5 -------->>>> +0-02 to 100-29  from 100-27

FN 5.0 -------->>>> +0-01 to 101-31 from 101-30

FN 5.5 -------->>>> +0-00 to 102-16 from 102-16

FN 6.0 -------->>>> +0-01 to 103-03 from 103-02

CNBC reports that US government stake in Citigroup may be increased as soon as today. After a brief relief rally equities are once again trading to the downside. Bond yields fell briefly but trading has since gone sideways while the market continues to wait for HEADLINE NEWS. 

Did anyone read THIS TREASURY PRESS RELEASE <---LINK? If not you should...unprecedented policy enactment speed from the US Treasury Department. More disposable income = more spending.