December 24, 2014
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MERRY CHRISTMAS! Wishing you and your family the most wonderful Christmas! And for those of you where English is a second language, I’ll say Merry Christmas to you in your first language. And for those of you not celebrating Christmas, have a wonderful long weekend. I think that about covers it!
My Market Update – 12/24/2014
The 30-year Fannie Mae bond is trading down just -2bps since yesterday’s close. And yesterday’s close was UGLY. We lost over 50bps in one day and rates/pricing are worse by nearly a half-point. Yesterday illustrates how a lender’s pricing worsens when the bond is selling off. Don’t expect much activity today. Hopefully traders will try to take advantage of their gains by selling off in the days to come after the holiday. Until then, worry not of such things and enjoy your time away from the industry. Best wishes for a safe and relaxing holiday!