BREAKING TARP NEWS

By: Matthew Graham • Fri, Oct 24 2008, 11:18 AM

Treasury official: Tarp purchases may start hitting within days and will be publicly announced within 48 hours.

Treasury says to expect additional announcements in coming days and weeks. Full story to follow when we have it. No appreciable response in MBS yet, which is a testament to the fact that market participants want to see dry ink on the paper before opening their checkbooks.

Stay tuned. we're currently at 99-19 which is 24 ticks down on the day, but only 11 down from going out levels.