Mortgaged Backed Securities are Minus 3bps this morning.

I waited until this afternoon to write the commentary because there was nothing happening early in the bond markets. It is now noon Milwaukee time and MBS are basically flat. Volume seems to be decreasing as we get later in the day. Traders appear to be excited about the first official weekend of summer. Reports released today showed GDP was in line and durable goods orders were slightly higher than anticipated.

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