Ben Helps Rates
2/26/10 Mortgage Backed Securities are plus 3bp this morning. Chairman Ben Bernanke finished his semi annual testimony on Capitol Hill yesterday. MBS and interest rates have moved in a favorable direction after his testimony. We have hit a layer of resistance at the current level. We would need to see some very bad news to break out of the current range. News released today show existing homes sales declined, along with consumer sentiment, and GDP. Chicago PMI was higher...