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Bond Markets Slightly Stronger Overnight; Limited Activity So Far
Posted to: Micro News
Monday, July 7, 2014 9:15 AM

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On paper, this week looks like a snoozer.  In early trading, this morning has given us no reason to believe otherwise as rates/prices are little-changed from Friday's latest.

This was less clearly the case at the start of the overnight session.  Treasuries were weaker out of the gate, trading as high as 2.661 during Asian hours.  Those levels were only seen briefly at the open, and improved steadily since then.

Treasuries are outperforming MBS slightly compared to Friday's ranges.  10yr yields are are near their best 2-day levels (2.632 vs 2.627) while MBS still have a bit of a gap to close (102-02 this morning vs 102-07 on Friday morning).

There are no significant scheduled events on tap today, and participation has been light so far.

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Mortgage Rates:
  • 30 Yr FRM 3.63%
  • |
  • 15 Yr FRM 2.92%
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  • Jumbo 30 Year Fixed 3.60%
MBS Prices:
Recent Housing Data:
  • Mortgage Apps 10.03%
  • |
  • Refinance Index 11.33%
  • |
  • Purchase Index 8.43%