MBS opens in the red as TSY yields pushed higher overnight. The Financial Accounting Standards Board's meeting on "mark to market" is underway. Mortgage buyers are welcoming the opportunity to allow MBS dollar prices (as opposed to relative value) cheapen up after the stack began to flirt with all time price highs.

from 5pm "Going Out" Marks...

FN30_______________________________

FN 4.0 -------->>>> -0-07 to 100-09 from 100-16

FN 4.5 -------->>>> -0-07 to 101-29  from 102-04

FN 5.0 -------->>>> -0-05 to 103-00 from 103-05

FN 5.5 -------->>>> -0-03 to 103-23 from 103-26

FN 6.0 -------->>>> -0-03 to 104-12 from 104-15

GN30______________________________

GN 4.0 -------->>>> -0-02 to 100-19  from 100-21

GN 4.5 -------->>>> -0-02 to 102-06 from 102-08

GN 5.0 -------->>>> +0-00 to 103-21  from 103-21

GN 5.5 -------->>>> +0-00 to 104-04 from 104-04

GN 6.0 -------->>>> -0-01 to 104-17 from 104-18

EFFECTIVE FED FUNDS: +0.00 to 0.16 from 0.16

LIBOR FIXINGS

O/N LIBOR:  -.0062 to 0.2900 from 0.2962

1 MONTH:  -.0056 to 0.4894 from 0.4950

3 MONTH:  -0.0110 to 1.1659from 1.1769

6 MONTH:   -0.0006 to 1.7156 from 1.7162

1 YEAR:   -0.0038 to 1.9550 from 1.9512