Friday, August 28, 2009

FLOAT OR LOCK? Daily Phoenix Interest Rate Update and Recommendation - Aug 28th, 2009

Current Pricing of FNMA 30 Year 4.5% Bond: $100.12
0 bps (Prior Close – $100.12)

Market Update: The MBS pricing is unchanged this morning from yesterday's close after some initial up and down trading.

Economic News: The Federal Reserve's preferred inflation gauge, the Core Personal Consumption Expenditure Index, indicated that inflation remained tame last month coming in at 1.4% year-over-year. As part of that report, Personal Income and Spending were both reported inline with expectations.

Recommendation: FLOAT

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