The Fed dips into buying the 4.5% coupons for the first time since - TopicsExpress



          

The Fed dips into buying the 4.5% coupons for the first time since QE I ended in April of 2010. Volumes were near normal. We will continue to recommend Floating. Mortgage Bonds hung around the flatline today supported by increased demand and an uptick in Initial Jobless Claims. The 4% coupon was up 16bp to end the session at 102.22 and closed near session highs, despite the rise in Stocks. Stocks rebounded after recent weakness on promising data out of Europe. The Dow was up 66.19 points to 14,963.74, the S&P was up 14.16 points to 1,656.96 while the Nasdaq rose by 38.91 points to 3,639.70. Oil was last seen at $105.08/barrel up $1.22. Tomorrow New Home Sales will be released at 10:00am ET. Expect a small dip from previous report of 497K and in the range of 485K.
Posted on: Thu, 22 Aug 2013 22:42:39 +0000

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