Warsh's speech is unequivocally hawkish at first glance and Fed Funds Futures are selling quickly.
MBS are down a quick eighth of a point. Negative reprice risk could already be increasing.
Sideways to slightly weaker. MBS down 1 tick (.03) and 10yr up 1bp at 4.68
MBS down a quick eighth after Warsh speech and 10yr up 1.5bps at 4.686 (2yr up almost 7bps).
Warsh's speech is unequivocally hawkish at first glance and Fed Funds Futures are selling quickly.
MBS are down a quick eighth of a point. Negative reprice risk could already be increasing.