MBS OPEN: Earnings and Data Better than Expected. Rates Rise
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September Retail Sales Data was just released...better than expected
- SEPT RETAIL SALES -1.5% vs. CONSENSUS -2.1%
- SEPT RETAIL SALES EX-AUTOS +0.5% vs. CONSENSUS +0.2%
The bond market, which was already weaker after JP Morgan earnings beat expectations, is a few bps cheaper after 830AM data.
The FN 4.0 is currently -0-10 at 98-12 and the FN 4.5 is trading -0-11 at 100-26. Here is the FN 4.5 two day. Yesterday's gain have been erased....