Market Update 6/14/2016
MBS are down -2/32 (FNMA 30-yr 3.0 at 102.29), around 3/32 below morning levels, and near the low for the day. Some unfavorable repricing was seen. Some volatility took place today ahead oftomorrow’s Fed meeting and the upcoming British vote on exiting on June 23. The Dow is down 60 points. Tomorrow, the Fed statement will be released around 2:00 et. Fed Chair Yellen’s press conference will begin around 2:30 et. No change in rates is expected, but investors will be looking for hints about the timing of future policy changes. Before the meeting, PPI, Empire State, and Industrial Production will be released.