MBS
-2/32 @ 104.20
10 Yr T + 1/32 @ 1.6280
DOW +130 @ 14,831
An ECB rate cut, along with hints of added
stimulus in the future, lifted stocks and commodities today. The impact on MBS
was limited, however. Aside from a brief dip following the Jobless Claims data,
it was a relatively quiet session for MBS. Tomorrow, the Employment report will
be released at 8:30 et. The consensus forecast is for an increase of 155K jobs
in April. Over the last several months, the Employment report has caused a
large reaction in MBS markets. ISM Services and Factory Orders will be released
at 10:00 et.
Freddie Mac reported that average mortgage rates fell in the week through May 2, with 30-yrs hitting 3.35%, from 3.40% the prior week.
Freddie Mac reported that average mortgage rates fell in the week through May 2, with 30-yrs hitting 3.35%, from 3.40% the prior week.
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