MBS UPDATE: STACK STAGNANT AT THE MOMENT
So far this morning MBS is relatively flat in light activity as market participants attempt to determine their desired position within the stack. MBS is currently nearing/already at expensive price levels and investors may be searching for a means to make room for more buying (sell off needed). The stock market has reacted quite favorably to the Obama Adminstrations Toxic Asset plan SO FAR...the stock lever has been a nonfactor for Treasuries and MBS in early trading activity. Mortgage rates are mixed this AM depending on your lender...some lenders better some flat and some marginally worse.
APRIL FN30_____________________________
FN 4.0 -------->>>> +0-00 to 100-11 from 100-11
FN 4.5 -------->>>> +0-00 to 102-01 from 102-01
FN 5.0 -------->>>> +0-01 to 103-00 from 102-31
FN 5.5 -------->>>> +0-01 to 103-18 from 103-17
FN 6.0 -------->>>> +0-01 to 104-03 from 104-02
APRIL GN30_____________________________
GN 4.0 -------->>>> +0-00 to 100-17 from 100-17
GN 4.5 -------->>>> +0-02 to 102-07 from 102-05
GN 5.0 -------->>>> +0-03 to 103-17 from 103-14
GN 5.5 -------->>>> +0-00 to 103-31 from 103-31
GN 6.0 -------->>>> +0-03 to 104-10 from 104-07