MBS OPEN: Slightly Improved... Waiting For 1pm Auction

By: Matthew Graham
  • MBS gained moderately yesterday despite drama
  • Stocks were actually down.  Wait...  What?
  • 2 yr auction not well received by bond markets
  • Today brings a more pertinent 5 yr auction
  • Durable Goods are out already this morning, coming in weaker than the worst estimate
  • Excluding transportation, durables were right in line with expectations, this lessens the impact
  • Even so, all eyes on the 5yr auction to see if it can stir up a more heady Bid to cover and better foreign participation


MBS, Tsy, and LIBOR Quotes