MBS OPEN: Flat AM Follows Yesterday's Selling
By:
Matthew Graham
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- If you had a nickel for every time you'll hear "fresh supply concerns" today...
- Tsy borrowing needs $115bln vs expected $111 plus all manner of stock boon combined to kill fixed income yesterday
- Still about mid-range between annual highs and lows
- MBS opening a tick or two down, but still at least 5 ticks off yesterday's lows.
- 4.5 at 99-14
- illiquid, low volume, volatile summertime Friday session to come, can we get bounce?
- Waiting on only data of the AM, consumer sentiment at 955am