MBS OPEN: Data Hurts...

Last Session Recap

• lost some on limited data
• stock rally hurt tsy's
• tsy spending gave pause
• earning's season buzz mounting

Early Trading

• retail sales in at +.0.6% (consensus +0.5%)
• PPI up BIG +0.5% CORE vs. consensus +0.1%
• Big hurt for MBS and Tsy's

The Day Ahead

• Game over man, game over...  Well, at least that what Stewie would say if he saw this AM's chart.