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MBS MORNING: Prepayment Speeds Slow in January. EU Deficits Now in Focus

Posted by HardMoney in Hard Money News Friday, 5 February 2010 11:45 No Comments

Posted To: MBS Commentary

The dust is starting to settle after the initial knee jerk reaction to the Employment Situation Report. Stocks are still dealing with yesterday's sovereign debt/jobs data/panic induced weakness. The S&P is currently -0.14% at 1060. The dollar is holding onto yesterday's FLIGHT TO QUALITY rally, currently +0.46% at 80.283. (Global debt fears sent funds into the safest currency yesterday…yeh THATS RIGHT..KING DOLLAR!!! Last time I quote Larry Kudlow, I promise) The 10 year Treasury note is trading above yesterday's levels. The 10yr futures contract has seen HUUUUUUUGE trading volume this morning. A nice level of support has been built in at 118-12. 118-12 is right about 3.60% in the cash market for 10 year Treasury notes. The 3.375% coupon bearing 10 year note is currently …(read more)

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This entry was posted on Friday, February 5th, 2010 at 11:45 AM and is filed under Hard Money News. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

 

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