Posted To: MBS Commentary After the TIPS auction just over an hour ago, there is little left to provide guidance for rates. That's not an entirely bad thing today as the 4.5 is up 6 ticks at 100-13, and the 4.0 slightly better up 9 ticks to 97-10. This represents a moderate amount of tightening as the yield curve is nearly unchanged with nothing from 2's to 10's off by more than 2 ticks.

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MBS LUNCH: Slightly Improved In Confines Of Narrow Range