Yesterday the MBS market saw slow and steady gains all day. The boost began in the overnight trading hours with weaker than expected economic data out of Germany and the ECB promising ongoing support for the struggling portion of the Eurozone. Consumer Confidence declined according to an afternoon report and light volume in the 10 year Treasuries forced traders to the MBS market late afternoon; pushing the market to new highs. This morning amid speculation the U.S. budget talks are risking a government shutdown has boosted demand for safer assets. New Home Sales will be released at 10 AM today, but the debt ceiling debate is front and center today…
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