Current Pricing of FNMA 30 Year 4.5% Bond: $100.11
+27bps (Prior Close – $99.84)
Market Update: The MBS pricing started off higher this morning as stocks continue to recover. The US equity markets continue to fall from a much needed correction. The markets continue with their high levels of volatility.
Economic News: No economic reports are due to be released today. Traders are already anticipating tomorrow’s Treasury auction announcement. Recent trends have shown a pattern of mortgage bonds selling off with the Treasury announcements. Other economic data being released tomorrow is the weekly jobless claims, index of leading economic indicators, and the Philadelphia Fed index.
Recommendation: Float
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