Without any notable econ data on tap, bonds were left to their own devices on Wednesday. This initially involved moderate overnight weakness and mostly sideways trading during domestic hours. From a calendar standpoint, the 30yr bond auction was the lone tradable event. While it helped a bit at first, bonds were soon right back where they started. In hindsight, it was a forgettable, holding pattern type of day ahead of more relevant data on Thursday morning.
Market Movement Recap
09:50 AM
Moderately weaker overnight as rate cut odds decrease. 10yr up 2.7bps at 4.178. MBS down an eighth.
01:04 PM
Stronger after 30yr bond auction. MBS down only 3 ticks (.09) and 10yr yield up 3bps at 4.182
03:08 PM
Treasuries back near weakest levels with 10yr up 3.9bps at 4.19. MBS down an eighth.
MBS Market Alerts
