Mortgage backed securities (MBS) closed even today at 103.44 having come to rest just 4 basis points below the 200 day moving average. The day ended with a large green candlestick known as a bullish hammer candle. This positive candle bodes well for trading in the days ahead if can re-take the new resistance offered by the 200 day moving average. A "B" rating for today's $35 billion 2 Year Treasury auction. The 30 year fixed was available at 3.625% again today.
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