Watch stocks, any close up 100 plus will keep the heat on MBS
This one had the tail of a German Shepherd (2.3 bps) versus that of a Rottweiler, adding to the lack of interest. Both the 10 year and MBS took it on the nose post auction. At one time, the note was down 1 point and MBS off 10/32’s. Watch stocks, any close up 100 plus will keep the heat on MBS.