Current Pricing of FNMA 30 Year 4.5% Bond: $100.19
-12bps (Prior Close – $100.31)
Market Update: The MBS pricing has been pressured lower by a comment from Richmond Fed President, Jeffrey Lacker, suggesting that the Fed may not need to buy the full $1.25 Trillion in Mortgage Backed Securities they have committed to earlier this year.
Economic News: Jobless claims dropped -10K lower showing a filing claim number of 570K, right on the forecasts; last week's claims were revised up 4K to 580K. In other news, revised Gross Domestic Product for the 2nd Quarter came in close to expectations.
Recommendation: LOCK
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