GOOD DAY 8/29/2016
MBS are up +8/32 (FNMA 30-yr 3.0 at 103.24), around 6/32 above morning levels, and near the high for the day. Favorable repricing took place. On Friday, investors grew more concerned about a Fed rate hike, but today those fears were reversed, and MBS recovered Friday’s losses. There was little news today to explain the change in sentiment about future Fed policy. The Dow is up 100 points.Tomorrow, Consumer Confidence will be released at 10:00 et.