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MBS RECAP: Healthy Bounce Before And After 30yr Auction

Feb 14 2013, 4:09PM
MBS Afternoon Market Summary
Treasury yields rose into scary territory overnight and remained fairly scary even in the morning hours as 10's pushed up over 2.05 after the stronger-than-expected Jobless Claims report. MBS were hanging a bit tougher by comparison, never dipping below yesterday's weakest levels. Both sides of the market managed to shake off the post-claims selling spree and get back in line with yesterday afternoon's range though 10's began drifting a bit higher in yield leading up to this afternoon's 30yr auction. But even before the auction, short-covering in Treasuries began kicking in in grand fashion, fueling a nice little "rally before the real rally." The real rally in this case came after the strong 30yr Auction though we'd be incredibly careful to note here that there's a 3-day weekend ahead and trading screens only look so green because they've been so red recently. MBS are still under 103 and 10yr yields are still toeing the line at 2.0.
MBS Pricing Snapshot
Pricing shown below is delayed, please note the timestamp at the bottom. Real time pricing is available via MBS Live.


FNMA 3.0
102-30 : +0-11

FNMA 3.5
105-09 : +0-09

FNMA 4.0
106-09 : +0-04

FNMA 4.5
107-10 : +0-03

GNMA 3.0
104-05 : +0-13

GNMA 3.5
107-08 : +0-06

GNMA 4.0
108-08 : +0-05

GNMA 4.5
109-04 : +0-00

FHLMC 3.0
102-16 : +0-11

FHLMC 3.5
104-30 : +0-08

FHLMC 4.0
105-29 : +0-04

FHLMC 4.5
106-19 : +0-03

Pricing as of 3:15 PM EST

Special credit to Jaques Poujade for the info-

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