The 40 billion dollar auction package of 3 year notes spit the bit with below average results. Yield hit the tape at 1.377% with an ugly 1.8 bps tail (big cat). Bid to cover was 2.83 to 1 (average 3.0 to 1) and Indirect bidders took 51% (close to average). The only positive I can see is that foreign interest (Indirect bidders) took their fair share. But that should be expected as Greece slides into the ocean. Give this baby a C. Currently, the street is showing its dissatisfaction as the 10 year note is off 8/32’s and MBS off 3/32’s. No rest for the wicked.
Currently, the street is showing its dissatisfaction as the 10 year note is off 8/32’s and MBS off 3/32’s
February 9, 2010|Austin Mortgage Market|
About the Author: Max Leaman Austin Mortgage
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