TSY yields are on the rise and stock futures indicate a positive open. MBS bids are moving lower as the yield curve steepens....

Since 5pm yesterday...

FN30______________________________________

FN 4.0 -------->>>> -0-08 to 98-28 from 99-04

FN 4.5 -------->>>> -0-07 to 100-29 from 101-04

FN 5.0 -------->>>> -0-04 to 102-10 from 102-14

FN 5.5 -------->>>> -0-03 to 102-26 from 102-29

FN 6.0 -------->>>> -0-03 to 103-12 from 103-15

GN30______________________________________

GN 4.0 -------->>>> -0-07 to 99-02 from 99-09

GN 4.5 -------->>>> -0-08 to 101-06  from 101-14

GN 5.0 -------->>>> -0-07 to 102-18 from 102-25

GN 5.5 -------->>>> -0-05 to 103-02 from 103-07

GN 6.0 -------->>>> -0-04 to 103-14 from 103-18

Today begins the Class A Settlement Process. We will be moving to the April Fannie Mae coupon shortly

Ben Bernanke speaks on Bank Regulation at 830AM....