Market close

MBS   -8/32 @ 99.24      10 Yr T    -11/32 @ 2.2310       DOW  -126@ 14995

 

MBS moved lower early in the session, but then rallied ahead of the 10-yr Treasury auction. Unfortunately, weaker than average auction results caused MBS to move lower for the rest of the session. No economic data came out today. Tomorrow, Retail Sales, Import Prices, and Jobless Claims will be released at 8:30 et. The results from the 30-yr Treasury auction will come out around 1:00 et.

Tomorrow, we will be switching the current coupon from the 30-yr 3.0% to the 30-yr 3.5% to better reflect current market conditions.