| Dec 13, 2011 3:10PM Today's impressive 10yr Treasury Note Auction was the key component in a rally that has taken 10yr yields from one side of their recent range to the other in a matter of hours. The essentially unchanged FOMC Statement was like the 3rd base coach waving in runners (MBS and longer-dated Treasuries) who already had an easy standing triple after the auction. The following video clip from MBS live clearly shows the biggest moves of the day just after the 1pm auction followed by a slight extension of the... Dec 13, 2011 4:03PM A strong Treasury auction and an uneventful policy statement from the Federal Reserve paved the way for Mortgage Rates to improve to their best levels since late September/early October today. Although the improvements haven't translated to a lower Best-Execution rate, the costs involved in obtaining those rates should be slightly lower today than they were last Thursday (12/8/11). Today's auction of 10yr Treasuries showed extremely high demand and at lower rates than markets had been trading. Although...
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