Posted To: MBS Commentary High yield 1.377 pct, awards 26.75 pct of bids at high Bid-to-cover ratio 2.83, non-comp bids $156.7 mln Primary dealers take $15.42 bln of 3-year notes sale, indirect $20.37 bln We're down 6 ticks since the auction so far, and falling.

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MBS ALERT: Reprice for Worse Possible