MBS ALERT: After Hours Illiquidity Leads Us Lower
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The FN 5.0 has fallen as low as 100-08 in after hours trading. Lenders might reprice for the worse, again, just for fun/to spite you. The 10 yr is however holding steady near 3.82%-3.84%...this MSB selloff is based on the illiquid after hours trading environment, a complete lack of demand, and an aversion of duration.
2s vs. 10s: 257.62