MBS has slightly improved while TSY yields have moved a few bps higher. Stock market participants appear to be uncertain on how the government is planning to clean up bank balance sheets. The government appears to be uncertain too... :-)

APRIL FN30______________________________

FN 4.0 -------->>>> +0-04 to 99-06 from 99-02

FN 4.5 -------->>>> +0-03 to 101-06 from 101-03

FN 5.0 -------->>>> +0-00 to 102-09 from 102-09

FN 5.5 -------->>>> +0-01 to 102-31 from 102-30

FN 6.0 -------->>>> +0-00 to 103-17 from 103-17