HAPPY Dec 1st 2015
MBS are up +1/32 (FNMA 30-yr 3.5 at 103.21), around 6/32 higher than yesterday at this time. Early investors may have priced at lower levels.
MBS have recovered early losses this morning, ahead of today’s economic data. The Dow is up 150 points. ISM Manufacturing and Construction Spending will be released at 10:00 et.