I'm working on a rendition of the Beatles song 'Can't Buy Me Love.'
Replace "me" with "MBS" and "love" with "any semblance of healthy buying demand despite the most obscenely massive day of Fed MBS purchases in the history of the world." The title is a work in progress...
UMBS 2.5's are already down half a point from the open despite Treasuries improving. Literally, no one will touch MBS besides the Fed right now, and even with the Fed buying absolutely everything on the table today, we can't seem to find a bid this morning.