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Bond Markets Slightly Weaker At the Open
Posted to: Micro News
Monday, October 28, 2013 8:56 AM
Treasuries and MBS notched lower in price at the CME open at 8:20am--a time of day where more market participants are beginning to trade Treasury futures. Fannie 3.5s moved 3 ticks lower to 102-18 and Treasuries moved roughly 1bp higher in 10yr yields to 2.52. Both remain just inside last week's weakest levels, but have stabilized just a bit with MBS up to 102-19 and 10's down to 2.518.
Treasuries had a fairly uneventful night before that, trading a narrow range from 2.51 to 2.526. Asian hours were mostly negative and European hours countered the losses almost perfectly.
Today is lighter than most of the week in terms of economic data and events, but there are a few reports. Industrial Production for September leads off at 9:15am followed by Pending Home Sales at 10am.
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