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Moderately Higher in Light Holiday Volume
Posted to: Micro News
Monday, December 30, 2013 9:25 AM
While European and Asian markets were technically open overnight, that fact is barely detectable based on trading levels. 10yr Treasury yields held within a narrow 2.995-3.015 range until early domestic trading introduced more of a bid.
10yr yields made it down to 2.978 but are just slightly off those lows at 2.9833 now, a total of 2.27bps lower than Friday's 5pm levels.
MBS opened right in line with Friday's latest levels are Fannie 4.0s are currently up 5 ticks at 103-01.
Volume and participation remain generally drained by the holidays and overseas absences will be even more prevalent this week. That, combined with the absence of significant data make it mostly pointless to read any strategic significance into trading levels.
Pending Home Sales coming up at 10am ET
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