Thursday, June 20, 2013

Market finish


MBS   -21/32 @ 101.13       10 Yr T  -17/32 @ 2.4200      DOW  -353@ 14758

 

 

Investors continued to shift assets based on yesterday's Fed announcement, leading to an extremely volatile session. Stocks got hit much harder than MBS today. Contributing to the decline in stocks was the news that China's May PMI manufacturing data fell to the lowest level in nine months. The impact of the Fed was felt in commodity markets as well. Gold prices declined below $1,300 per ounce for the first time since September 2010. Copper prices fell to the lowest level since October 2011. Today's economic data had little impact. No economic data will be released tomorrow.

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