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American Capital Agency Corp. Message Board

  • dr_klumps dr_klumps May 6, 2013 2:38 PM Flag


    Folks, it is all about interest rates and MBS pricing, I mean real market prices and yields, not the phoney talk by Big Ben and Financial Commentators. MBS is trending weeker, fresh new lows this afternoon, reprice risk is constant. I am look at the boardm Ginnies are 2-7 Ticks lower, but Treasuries are even worse, 3-19 Ticks lower.

    Commentary from MBS Prices (Search Engine)
    Negative reprice risk has been and will continue to be a constant companion for the rest of the day. Whereas prices were close enough to 10am levels to logically argue for less reprice risk an hour ago, that's not the case to the same extent now.

    Even lenders who were conservative with today's initial rate sheets are now facing a decidedly linear downtrend in prices. Same story with the uptrend in 10yr yields. Highly risky environment regardless of how far you are from initial rate sheet print time.

    Fannie 3.0s down 21 ticks at 104-00 even, 10yr yields up 12.6 bps to 1.75. S&P's still flyin' at 1615. To reiterate the previous alert, there's no reason to assume that this trend will stop until we've actually witnessed it stopping.

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