6/18/10

Most rate prices are level with Thursday as mortgage bonds trade in a choppy session as rumors of China re-valuing their currency pressure Treasuries but have pared losses after rumors were quelled. Hedge funds and Asia are in buying while servicers and us originators are selling has picked up a bit adding some pressure to MBS levels. No economic news was released today so we’ll leave this Friday to the ebb and flow of stocks and trader sentiment. Potential positive bank stress testing and some Spanish confidence are taking some pressure off of the Europe thing. The Dow is up nearly 25-points at the moment.