Agency MBS pass-throughs continued to perform well in July versus both Treasuries and swaps. Lower coupon Fannie 30-year TBA’s, namely 4.0’s, 4.5’s and 5.0’s rose by 0.50 – 1.25pts. Higher coupon TBA’s were largely flat from June end closes. New supply in the market continued to remain light and market demand for paper remained strong, aiding technicals. IOS.FN30 prices continued to come under pressure over the course of July, as mortgage rates continued to rally. IOS.FN30 prices dropped by 0.5 – 2pts across the board.

Download report

Comments (0)

Subscribe to this comment's feed