Results just hit the tape with a 3.0 to 1 bid to cover, 29% indirect bidders, 17% direct bidders, and a yield of 3.754%

Results just hit the tape with a 3.0 to 1 bid to cover, 29% indirect bidders, 17% direct bidders, and a yield of 3.754%.  The issue was actually 21 billion, not the 40 billion I had reported earlier.  The issue did have a .5bps tail and overall, sponsorship from both direct and indirect buyers was light.  We’ll give it a B.  MBS and 10 year treasury yields are virtually unchanged from pre-auction levels.  Down 10/32’s on the note, down 4/32’s on MBS, and plus 42 on the Dow is currently on the score board.  “Cautiously optimistic” fits our current schizophrenic mindset!

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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