MBS UPDATE: MUTED RECOVERY

After the MBS sell off in the 1pm hour mortgages began making a slow and steady recovery back towards yesterdays 3pm closing marks. News that the TSY department will begin purchasing longer term TSY securities TOMORROW sparked an after hours rally in the TSY market and MBS did its best to keep up....late in the day the stack lost steam and is once again moving lower ( We are actually better off than we were at yesterday's 5pm "going out" marks...see blue line on chart)

APRIL FN30_____________________________

FN 4.0 -------->>>> -0-02 to 100-06 from 100-08

FN 4.5 -------->>>> -0-04 to 101-25  from 101-29

FN 5.0 -------->>>> -0-03 to 102-26 from 102-29

FN 5.5 -------->>>> -0-05 to 103-12 from 103-17

FN 6.0 -------->>>> -0-01 to 104-03 from 104-04

APRIL GN30_____________________________

GN 4.0 -------->>>> -0-01 to 100-11  from 100-12

GN 4.5 -------->>>> -0-05 to 101-29 from 102-02

GN 5.0 -------->>>> -0-04 to 103-09 from 103-13

GN 5.5 -------->>>> -0-06 to 103-23 from 103-29

GN 6.0 -------->>>> -0-02 to 104-08 from 104-10

Matt is on deck with some end of day commentary....