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Reprice Risk Now Back in Full Effect

All of the post-QE4 announcement gains are gone.   2.5 UMBS are 10 ticks (.31 lower) lower on the day at 100-24 (100.75).  This isn't as low as they've been today, but close enough.  10yr yields are into new highs for the day and now down only 3bps at .847%.  Stocks haven't held their post-QE4 gains, and once again, the market is shunning Fed intervention.

To whatever extent negative reprices were possible earlier today, they're a risk again now.  If your lender never repriced for the worse (or if they recently repriced for the better), those risks are even higher.

MBS / Treasury Market Data

UMBS 6.0
99.43
-0.62
UMBS 6.5
101.30
-0.42
10 YR
4.9860
+0.0952
Pricing as of: 11/10 5:59PM EST
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