You getting any reprices for the better yet? You are due....

Since 5pm "Going Out" Marks....

FN30_______________________________

FN 4.0 -------->>>> +0-08  to 100-05  from 99-29

FN 4.5 -------->>>> +0-07  to 102-01  from 101-26

FN 5.0 -------->>>> +0-05  to 103-09  from 103-04

FN 5.5 -------->>>> +0-04  to 104-05 from 104-01

FN 6.0 -------->>>> +0-03  to 104-28  from 104-25

GN30________________________________

GN 4.0 -------->>>> +0-07  to 100-12  from 100-05

GN 4.5 -------->>>> +0-07 to 102-09 from 102-02

GN 5.0 -------->>>> +0-05  to 103-29  from 103-24

GN 5.5 -------->>>> +0-02  to 104-12  from 104-10

GN 6.0 -------->>>> +0-03  to 104-25 from 104-22

UST2YR Yield:  -0.036  to 0.8427

UST3YR Yield: -0.061 to 1.2181

UST5YR Yield: -0.101to 1.7120

UST10YR Yield: -0.084 to 2.7790

UST30YR Yield: -0.072 to 3.6457

Mortgages have continued to trade progressively higher throughout the day and newly minted higher paying rate sheets should be headed your way (should be doesn't mean it will happen). Looking at the graph, our intraday upward trend channel has held together nicely. The 100-02 price level for the FN 4.0 remains our short term support. For the rest of the day 100-05 will remain overhead resistance. Isn't this a pretty trend channel? It has reprice for the better written all over it...good luck I hope they come through!!! :-D

I really do my best to stay out of politics because 98% of the rhetoric that comes from Washington is poo...but when it comes to your perspectives on "What is Going On"...I take politics very seriously. That said....

I read some interesting thoughts about President Obama's speech in the comments section of a previous blog post. Most market participants want to hear more details about what the administration is doing to solve the financial crisis. I follow the points made by our readers but feel like it is necessary to point out the unparalleled transparency being shown by the Federal Reserve and Treasury department . Furthermore when you are listening to President Obama you should remember that he has to connect with a very broad audience, the majority of which who gets their market guidance from newspapers and tv programs and generally has no idea what in the world is going on within the banking system. No offense if you are one of those people because the topic is extremely complex and to fully understand economic developments you really need to follow the money daily. I assume that the majority of our audience is quite bored with President Obama's seemingly similar speeches. As you should be....if you are left craving more details you could spend your time using one of my favorite tactics...dive deep into the budget, the Fed Balance Sheet, the TSY balance sheet, and watch the credit markets every day. That's where you find your answers (not to mention all the under the table antics the Treasury Secretary is quietly implementing at investment brokerages. Hint: has your wealth management advisor filled you on any new investment vehicles? Maybe some undervalued investments backed by TALF  assets?)

Bernanke's comments didnt move money...he too sees "glimmers of hope".