Nominal Spreads on MBS are wider after FOMC meeting

I see the spread on 30-Year Conventional MBS over the 10-Year out 4 basis points to a spread of 66 (or 0.66 percent yield) from yesterday's close.

The 10-Year is rallying again surpassing previous lows in yields to 2.77, down 5 basis points from yesterday.  The strength is questionable though since option volatility as evident by interest rate swaption pricing and the Merrill Lynch MOVE index is rather subdued.  Having said that, it should be noted that volatility increased earlier last week in what could be interpreted as players front-running today's FOMC and last week's anemic Non Farm Payrolls number.  At the end of the day, rates are low and should stay within a definable range for quite some time.