Tuesday 6/24/08 ......... Pre-Data Update

We're waiting for consumer confidence data to be released at 10AM Eastern.  So far this morning, we've recaptured most of yesterday's losses with the 6.0% coupon up by 4/32nds.  MBS are still lagging treasuries a bit. 

The 10AM data could cause some movement, but it will certainly be muted by the hush surrounding the Fed Meeting which begins today.