MBS OPEN: Limited Reaction To Upward Revision In GDP
February 26, 2010 – 5:42 amPosted To: MBS Commentary
AT A GLANCE (you like it when we do this?) GDP headline Slightly Better than expected at 5.9 vs 5.7, but tamer than expected inflation, and consumer spending. Those Internals, plus more news out of Greece, and the data yet to come on the day is helping keep bonds in the green until further notice MBS 4.5's are up 3 ticks at 101-02. 10yr Yield is right at 3.62 No really definitive movements from either market! Plenty of data left to come including home sales. Rally or Sideways seem to be the two dominate potentialities today, whereas "sell-off" seems far-off (for now) We'll let you know if a trend can form up after any of the next data sets that come out. Have a great Friday! As you can see, no major directionality has been able to form after this morning's GDP revision…(read more)