Overall, this 30 year bond auction was not a dog but a pack of them

13 billion of 30 year bonds just hit the tape.  Yield 3.852% with a whopping 3.2 bps tail.  Indirect Bidders and Direct Bidders took 41% of the auction, leaving the street to mop up nearly 60%.  Bid to cover stunk at 2.47 to 1.  Overall, this was not a dog but a pack of them.  Give it a D just because we hate to fail anybody.  Bonds, notes, and mortgage backs are trading fast market conditions with the 10 year off ½ point  and the bond down over 1 point.  MBS now off 5 to 7/32’s.

About Max Leaman Austin Mortgage

GREAT RATES, LOW FEES, CLOSE ON TIME™ ---- 2012 Ranked #1 Austin Residential Mortgage Lender (Austin Business Journal) 2010, 2011 & 2012 Five Star Professional (Texas Monthly) 2009, 2010, 2011, 2012, 2013 PrimeLending Chairman's Circle Award 2009, 2010, 2011, 2012 Scotsman Guide Top Originator (Top 200 Mortgage Professionals in U.S.A.) Better Business Bureau "A+ Rating" National Lender Rankings (Scotsman Guide): Top Purchase Volume (No. 10) Most Loans Closed (No. 32) Top Dollar Volume (No. 88)

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