MBS OPEN: Out of the gate low, but rallying...

Shortened trading day today, and the action is moderately brisk for MBS.

All the following price levels were about 4 ticks lower 30 seconds ago, but have since rallied.  The normal scheduled data gets squeezed in as follows:

- 830AM - CPI

- 915 - Both Industrial Production and Capacity Utilization

- 955 - Consumer Sentiment

Price Levels:

4.0 down 4 ticks to 100-14

4.5 down 3 ticks to 101-27

5.0 unchanged at 102-24