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Slightly Weaker After Data, but Bouncing Back Into Positive Territory
Posted to: Micro News
Thursday, October 24, 2013 8:59 AM
It was an uneventful overnight session for Treasuries. 10's started out heading slightly higher in yield, but never broke above 2.51. 6am-8am saw the weakness turn around and we approached the 8:30am data from the best levels of the session.
At that time, 10's were near 2.485 and MBS were just edging up to 102-24 in Fannie 3.5s. The first move following data was weaker, but it now looks to be unwinding. 10's are back to unchanged levels and MBS--which had just been trading at unchanged levels--are now up 3 ticks to 102-23.
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