Wednesday, June 19, 2013

Market off quite a bit


MBS   -1 & 6/32 @ 102.02       10 Yr T  -1& 14/32 @ 2.3570      DOW  -206@ 15,112

 

Unfavorable repricing took place. Any investors hoping for bond-friendly news from the Fed were disappointed. The Fed's forecasts for the economy improved and the Fed expects to begin tapering its bond purchase program later this year. Bernanke did, however, emphasize that the Fed does not expect to sell its holdings of MBS. No economic data was released today. Tomorrow, Jobless Claims, Existing Home Sales, Philly Fed, and Leading indicators will be released.

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