Current Pricing of FNMA 30 Year 4.5% Bond: $100.66
+16 bps (Prior Close – $100.50)
Market Update: The Mortgage Backed Security (MBS) pricing is moving higher this morning after a long holiday weekend. Stocks initially opened higher this morning but have since pulled back, strengthening Bond prices.
Economic News: There are no economic reports being released today. But the action promises to pick up today with the start of the three big Treasury auctions. A total of $70B in Treasuries will be auctioned this week.
Recommendation: FLOAT
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