Analyst: Jobs Report Sparked MBS Illiquidity

Mortgage-backed securities experienced a brief period of illiquidity Friday morning following the release of a stronger-than-expected March employment report (see item above), according to Art Frank, director of MBS at Nomura Securities International Inc.Just after the release of the report, MBS were "illiquid" for several minutes, Mr. Frank said. Trade quickly resumed, but as of noon it was still relatively light, he added.

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