MBS UPDATE: RANGE BOUND

Whoa...time flies when youre having fun! I got totally sucked into Barack's Budget.

CLICK ON ME to read it

The stack has been sideways all day...not much movement either way. Up in coupon remains the bias...pretty boring day thus far for MBS

FN30______________________________________

FN 4.5 -------->>>> -0-02 to 100-09  from 100-11

FN 5.0 -------->>>> -0-01 to 101-22 from 101-23

FN 5.5 -------->>>> +0-00 to 102-12 from 102-12

FN 6.0 -------->>>> +0-01 to 103-08 from 103-07

The 7 yr Treasury Note made its return today...after 15 years of hibernation. Here are the auction results...

2.11 BID TO COVER.49% Indirect Bid...whoa

Here's how stocks and bonds are doing...pretty flat. Financial stocks are leading the way in equity markets...