June 15th Mortgage Market Wrap-up 2

Mortgage backed securities (MBS) closed up an impressive 34 basis points today at 105.09 having distanced themselves nicely from support offered by the 25 day moving average below.  With all the drama unfolding this weekend with the elections in Greece offering the possiblity of putting some truly zany candidates in office, the "safe haven" trade was flowing nicely today.  If that was not enough to keep MBS bonds flying, the Empire State purchasing manager's index was a flop.  The 30 year was available at 3.625% today.