Holding Modest Gains After First Round of Data
With a scheduled market closure in Japan and Treasury futures closed until 6am, the overnight session was understandably very light. Cash Treasuries traded for four illiquid hours ahead of the 6am futures open.
10yr yields began over 3.05% in the wee hours, but are now back below Tuesday's latest levels, currently 3.0114. Most of that improvement was in place before 8am, but yields rose just a bit heading into 830am Jobless Claims and improved afterward.
Fannie 4.0s are currently up 3 ticks at 103-01, but the lack of liquidity cannot be emphasized enough. We can count the number of quote updates on fingers and toes this morning.
Speaking of updates, the live stream is back online. If you haven't already, refresh the dashboard to update charts.