Tuesday 11/4 ... Facemelting Rally

By: Matthew Graham • Tue, Nov 4 2008, 1:46 PM

6.0's are up 26 ticks knocking on door of 101-00 which should give way to some YSP on 6.0's at the end of the day.

5.5's have picked up almost 50% of the MBS bid today up 36 ticks at 99-07.

Chalk this up to lower volume, no originator selling, and anticipation of TARP effects : aka anTARPtipation.

Keep floating and only be considering locking short term deals once you see late day price improvements.