MBS UPDATE: More Up in Coupon

MBS Stack Sell Off is Intensifying...

Fn 4.0->  -0-16 to 99-14             

Fn 4.5->  -0-12 to 100-26            Gn 4.5->  -0-10  to 100-28

Fn 5.0->  -0-08  to 101-24           Gn 5.0->  -0-08 to 101-31

Fn 5.5->  -0-06  to 102-13           Gn 5.5->  -0-06  to 102-15

Fn 6.0->  -0-01  to 103-04          Gn 6.0->  -0-02  to 102-28

Since the UST5Y Auction here is how TSY Yields have performed. As expected, the massive supply of US Gov. debt weighed on the Auction. Bid to cover 1.98

2yr: 0.93  (+0.02)

3 yr: 1.30  (+0.03)

5yr : 1.77  (+0.05)

10yr: 2.78  (+0.06)

30yr: 3.54  (+0.05)

On the bright side...MBS is outperforming the Yield Curve!!!