Volume is low and trading is slappity choppity sloppity. The 10yr JUST broke intraday resistance and the chances are increasing of a reprice for the worse. This depends on how much, if at all, your lender hedged today's rates for the potentially volatile Friday. In a morbid kind of way, it's nice to finally see some volatility on a quad witching day as it seems the media incessantly touts it as this uber-volatility day, but it has failed to deliver on those promises in recent quarters. Anyway, be on the lookout... Oh... And please understand that this is no indication of the rest of the day's direction. Everything's within the range, until it's out of the range. And both the highs and the lows so far today in both MBS and tsy's are far from either extreme.
MBS Market Alerts
