Rates are Hammered
2/19/10 Mortgage Backed Securities are minus 28bp this morning. MBS were hammered all day yesterday and continue to get hammered today. We have been talking about the Chinese not buying our debt anymore and how that could effect MBS. The Chinese started reducing their US debt holdings last week. We have written about the MBS purchase program ending and its effects. The FED said in their last meeting that they are ending the program. We said that the US could not continue...