Mortgage backed securities (MBS) closed up 3 basis points today at 105.16 having remained once again above support offered by th 25 day moving average 46 basis points below.  Traders are reluctant to take positions in advance of the big news of the day tomorrow, the Fed statement.  In the past, when the Fed has annouced new accommodative measures, bonds have rallied and then when the measures are actually put inplace they have sold off.  Stock traders have been betting heavily that either a a continuation of Operation Twist or QE3 will be hinted at tomorrow.  The 30 year remained at 3.625% today.

 
Posted by Jeff Jensen on 06/19/2012 03:30 PM   Comments (0)   Mortgage in the ActiveRain Channel  
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