MBS UPDATE: Pre Auction Readings

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The Treasury Department is just about to auction off $22bn 10 yr notes. At this point its looking like we will see decent bid.

My bet: a considerable amount of profit taking in the 10 yr following the auction. MBS remains range bound....

Since 5pm "Going Out" Marks....

FN30________________________________

FN 4.0 -------->>>> +0-03  to 100-08  from 100-05

FN 4.5 -------->>>> +0-03  to 101-31  from 101-28

FN 5.0 -------->>>> +0-02  to 102-29  from 102-27

FN 5.5 -------->>>> +0-01  to 103-19  from 103-18

FN 6.0 -------->>>> +0-02   to 104-20  from 104-18

GN30________________________________ 

GN 4.0 -------->>>> +0-04  to 100-12  from 100-08

GN 4.5 -------->>>> +0-03  to 102-06  from 102-03

GN 5.0 -------->>>> +0-02  to 103-17  from 103-15

GN 5.5 -------->>>> +0-03  to 103-30  from 103-27

GN 6.0 -------->>>> +0-05   to 104-17  from 104-12

UST10YR: 3.1726%

2s/10s: 221.17

DOW : +55 to 8466