February 13th, 2014
February 13, 2014; 9:39am
Interest rate trends: Today – Higher; 10 days – Higher; 25 days – Flat
Interest rate recommendation: Cautious float
Today’s economic news came in worse than expected and has caused MBS’s to improve, currently at +25bps. Retail Sales came in at a -0.4%, Decembers Retail sales was revised downward to -0.01% from .2%. Initial Jobless claims came in higher than expected as well. With the worsening economic data and MBS’s improving, we will change to a cautious float recommendation and see if we can get back some of what we have lost in interest rate pricing over the last few days. Have a great day!