Aprill 11th Mortgage Market Wrap-up 2

MOrtgage backed securities (MBS) closed down 19 basis points today at 103.22 having remained just a scant 10 basis points avbove support offered by the 50 day moving average.  Yesterday's long green wick on the candlestick showed that the bond had closed well below its high.  In charting lore, that indicates that a selloff may be in the cards and that is exaclty what happened today. The selloff was also aided by a stock market that rebounded from a five day downturn.