MBS OPEN: Moving Towards Bottom Side of Range

By: •

Overseas stock indices moved higher overnight and US Treasury prices lower (yields up). The benchmark 10 yr note is currently trading near 3.25% and the steepness of the yield curve, as measured by 2s vs. 10s , is at a two week high 233bps. US stock futures indicate another open to the upside...TSY and MBS remain defensive. MBS range support holding thanks to Fed provided liquidity...

Housing Starts and Permits at 830AM. Expecting about 520,000 .

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

FN30________________________________

FN 4.0 -------->>>> -0-01    to 99-27   from 99-28

FN 4.5 -------->>>> -0-01   to 101-21  from 101-22

FN 5.0 -------->>>> -0-02   to 102-22  from 102-24

FN 5.5 -------->>>> -0-01   to 103-17  from 103-18

FN 6.0 -------->>>> -0-01   to 104-22  from 104-23

GN30________________________________ 

GN 4.0 -------->>>> +0-01   to 99-25 from 99-24

GN 4.5 -------->>>> -0-01   to 101-25  from 101-24

GN 5.0 -------->>>> -0-00   to 103-16  from 103-16

GN 5.5 -------->>>> -0-01  to 104-02  from 104-03

GN 6.0 -------->>>> +0-01  to 104-21  from 104-20

 

UST10YR: -0-06 yielding 3.25%

2s/10s: 233.52 bps

 

EFFECTIVE FED FUNDS:  -0.01  to  0.16  from 0.17

LIBOR FIXINGS

O/N LIBOR:  +0.0000  to  0.2188   from 0.2188

1 MONTH:     +0.0000  to  0.3094  from 0.3162

3 MONTH:     -0.0325   to  0.7525  from 0.7850

6 MONTH:     -0.0325  to  1.2800  from 1.3125

1 YEAR:       -0.0288   to  1.5825  from 1.6113