A key U.S. mortgage-backed security price hit an all-time high April 30 as a Treasury rally brought the benchmark 10-year government bond yield into a lower trading range close to 3.8% and month-end buying boosted the market's appetite for MBS, a Nomura Securities International researcher said.Art Frank, director of MBS research at Nomura, said the benchmark Fannie Mae 5.5% mortgage pass-through coupon slated for May settlement set a record when it closed at 102 7/8 on April 30 and was trading slightly lower at mid-day May 1. The rate-indicative 10-year Treasury bond yield, which moves in the opposite direction from that of bond prices, has been drifting lower but had remained more or less in the 3.9% to 4.0% range until April 30.
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