MBS UPDATE: IN THE GREEN BUT...

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Quick Update while I finish the morning post. MBS stack is in the green today but spreads are WAAAAAAAY wider as the TSY curve rallies on fears of global recession . In other words MBS is getting outperformed by the yield curve(in low end of stack).

1030 marks...

FN30__________________________________                          

FN 4.5 -------->>>> +0-12 to 101-04 from 100-24                                      

FN 5.0 -------->>>> +0-11 to 102-07 from 101-28                                 

FN 5.5 -------->>>> +0-07 to 102-22 from 102-15   

FN 6.0 -------->>>> +0-03 to 103-11 from 103-08                                       

GN30__________________________________

GN 4.5 -------->>>> +0-10 to 101-17 from 101-07

GN 5.0 -------->>>> +0-13 to 102-27 from 102-14

GN 5.5 -------->>>> +0-07 to 103-04 from 102-29

GN 6.0 -------->>>>  -0-04 to 103-12 from 103-16

Rate sheets are better this AM...

I know I know...you want a better explanation of what I mean when I say the "Yield Curve Outperforms" right? Start off by reading THIS FROM THE KNOWLEDGE BASE