Wednesday 8/27 - As one might expect...

MBS and Treasuries have taken a bit of a beating following the durable goods reading.  Rather than shooting straight for the basement, MBS have paused at 100-24, a scant 2/32nds worse than yesterday.  By comparison, the 10 year treasury is down 12/32nds and the 5 year down 7/32nds. Stay tuned...