MBS
+19/32 @ 101.30 10 Yr T +19/32
@ 2.5930 DOW
-2 @ 15,371
The upward momentum in MBS markets seen yesterday following the
news of the debt deal continued today. Investors were more comfortable
purchasing MBS and Treasuries now that the threat of default has been removed
in the short-term. In addition, the extension in the debt ceiling and
government funding for just several months made investors think that the Fed is
unlikely to begin to taper its bond purchases until January at the earliest.
Today's data had little impact. The Philly Fed index declined to 19.8, above
the consensus of 15.0. Tomorrow, Leading Indicators is scheduled for 10:00 et.
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