Struggling to hang on...

The whole FNMA stack between 5.0 and 6.5 is hovering around unchanged on the day--plus a tick here, minus a tick there.  This despite stocks climbing over 100 points.  Treasuries are faring worse, but MBS may soon be dragged down if the stock rally continues.  For now, at least, floaters are still somewhat safe, but it is very risky to be in the water today.  Stay tuned for the latest as soon as it's available!