MBS RECAP: Handily Outperforming Treasuries Into Wednesday’s FOMC

News

MBS in the green now and Treasuries down a quick 1-2 bps and change after the following wire:

RTRS – GERMAN GOVERNMENT OFFICIAL SAYS THERE WERE NO DISCUSSIONS AT G20 MEETING ABOUT ANY PLANS TO USE EU’S RESCUE FUNDS TO BUY THE BONDS OF CRISIS-HIT MEMBERS

This one has more shock value than staying power but at the very least is helping reinforce the digging in of heels that was already underway since the weakness bottomed out just before 2pm. We’ll see where it goes from here, but so far, so good for MBS and Treasuries.

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