Wild In Ben's Wake

As you know, Bernanke can't even order a cheeseburger without the markets trying to draw conclusions.

He just spoke at his alma mater, saying a repeat of 1970's inflation is not probable.  He's notably more concerned with price stability and inflation than with the housing market.

MBS doesn't like it.  The curve waffled briefly in heavy trading  and now is moving down again with the 6.0% coupon down 9/32nds on the day.