• Ughh!... Massively wide spreads as traders price in event risk for Fannie earnings tomorrow
  • 6.0's a tick or so positive on the day at 99-18 (ugh...)
  • Sweet "T" (treasuries) on the other hand up 3/8's in the 5 and a .5 in the 10.
  • Fixed Income strength thanks to Jobless Claims
  • Claims up 7k to 455k, apologies to the bulls
  • LOCK OR FLOAT
    • SAME OLD, SAME OLD  Tomorrow could be quite the day for MBS, Unfortunately it has an almost equal chance of going down as up.  So short term, there is a significant amount of risk and volatility.  We are near historic wides again with respect to spread so if the quality perception can be increased, even if it's only slightly, MBS are poised for the rebound.