The AM So Far...
- 5 ticks up so far in 4.5's to 99-15
- tsy futures flluctuated overnight, but coming of domestic session reversed any losses.
- productivity and costs better than expected 6.4 vs. 5.5 consensus and -5.8 vs -2.8 consensus respectively
- Auction is big data item of the day at 1pm
Recap of Previous Session
- Testing to see if we held below 99-00... We did not!
- fairly sizeable rally actually
- but assessment (and excitement) was muted due to low volume and important data mid-week
- got to 99-10 on the 4.5. Tsy futures stayed strong
- stocks had a rare negative day.
In The Time It Takes To Type... (NEW!)
- Off the best levels of the morning by 2 ticks (99-16 to 99-14)
- Still better than best levels from yesterday
- tsy futures slightly higher than closing levels, 116-00 feels in reach
MBS Market Alerts
