MBS ALERT: Stocks Better. Rates Worse
What's good for stocks is bad for bonds....stocks are better, bonds are worse.
MBS are at the mercy of the stock lever....thus this YUCKY move lower in price. BOOO (creeepy foot doctor).
REPRICES FOR THE WORSE ARE A POSSIBILITY...
I hate when the range doesnt moderate....especially when I tell you that it should moderate. I suppose it was acceptable to expect the S&P to test 1,015 today. I suppose it was also acceptable to expect that TSY traders would be taking profits ahead of the long weekend...and next week's auctions!!! The range should still moderate...just not the tight, mortgage rate friendly range.....the bigger, less mortgage rate friendly one. BOOOO HISS!!!
CHOPITILITY!!!!
Happy "half day" Friday
PS...arent you glad you locked in this week?