Mortgage backed securities (NMBS) closed even today at 104.50 after having made a run during the day up to resistance offered by the 50 day moving average. The 4.0% coupon bonds remained in a channel below the 50 day moving average and above the 100 day moving average. With the number of traders starting to dwindle ahead of the upcoming long weekend, action on the floor of the bond pit was uninspired. The 30 year fixed closed at 4.50% today.
