The moderating range mentioned in MBS MORNING is proving to be an ongoing theme as 3pm marking gets closer.  MBS are down just 1 tick on the day at 100-22 and the 10yr is down 6 ticks bumping the yield to 3.70.  Stocks have recaptured a majority of losses from the previous session, but are still about a point away in the S&P from the previous high. 

Only meaningful news other than the gathering evidence for a Brown win in the MA senate race came in the form of the NAHB release at 1pm.  Here's the story...