MBS ALERT: More Selling

No statement surprises. They remain ready to do whatever it takes to avoid a catostrophic financial firesale.

The FOMC "stands ready" to purchase longer term Treasuries and will continue with its MBS Purchase Program and may even EXPAND the "quantity and "duration" of MBS purchases.  Translation: Quantitative Easing is Imperative and the government intervention isnt going anywhere...in fact it will intensify

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