The AM So Far...
- 4.5's down 10 ticks so far this AM...
- Insult to injury for TBW devotees...
- ADP employment "less bad"... Down 371 versus 473 prior, worse than forecast.. Not helping though...
- Results of MBA Application Survey...
- Refunding announcements and other data all hit in the AM
- 10yr futures finally through resistance at 116, but not on the side we'd like
Recap of Previous Session
- Pending Home Sales fueled the recovery fires
- Like the day before, MBS fell early and traced resistance
- S&P continued to close over 1000
- Income and outlays report mostly as expected
- Tsy's stayed under 3.7 by the close
In The Time It Takes To Type... (NEW!)
- MBS rebounding 3 ticks putting bottom in at 99-09, one of the minor resistance levels...
- Price action analogous to MBS and Tsy's "leading off" first base, waiting for refunding announcements and stock momentum to throw the ball where they probably will, thus giving MBS the signal to steal 2nd... But instead of 2nd base, only a fiery pit of woe... (mmm... have to write that one down for my list of potential names if I ever get around to opening that BBQ joint...)
MBS Market Alerts
