Wanted to get you out a quick heads up as fast market conditions as pressing the market (selling). Currently, the 10 year note is off 14/32’s to yield 3.81% while current coupon MBS are off 8/32’s. Since we priced near unchanged, chances of a worsening price are not if but when. Despite a firm close above the 8 day moving average, selling is threatening revive the bear trend. Very tricky market.
Since we priced near unchanged, chances of a worsening price are not if but when
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