(Update: we issued an alert at 12:07pm as prices quickly slid to their lows).

Much like yesterday, bond markets were weaker overnight with Treasury yields rising to levels near 2.86 in the very early morning hours and subsequently pushing back as the domestic session progresses.  None of the moves are significant except inasmuch as they serve to maintain the recent range.

In terms of Fannie 4.0 MBS, that's been between the high 103's and low 104's since just after Thursday morning's economic data.  10yr yields have held between 2.82 and 2.86 over the same time. 

There are no overt market movers in play, with markets instead paying mind to tradeflow considerations (biggest and most recent trades influencing subsequent trades) as well as probable hedging activities related to corporate bond markets (discussed recently in greater detail HERE).

MBS Pricing Snapshot
Pricing shown below is delayed, please note the timestamp at the bottom. Real time pricing is available via MBS Live.
FNMA 3.0
96-03 : -0-05
FNMA 3.5
100-13 : -0-05
FNMA 4.0
103-29 : -0-04
2 YR
0.4000 : +0.0200
10 YR
2.8471 : +0.0241
30 YR
3.7471 : +0.0091
Pricing as of 1/22/14 11:56AMEST

Morning Reprice Alerts and Updates
A recap of Alerts and Updates provided to MBS Live subscribers.
9:21AM  :  Bond Markets Near Yesterday's Weakest Levels

Live Chat Featured Comments
A recap of featured comments from the Live Discussion on the MBS Live Dashboard.
Mitch Mitchell  :  "Can someone direct me on the time required after purchase before we can use appraised value please? I can't find in AllRegs, will bookmark after I do!"
Matt Hodges  :  "technically, i think its 12 months, but many u/w will allow after 6 months on market conditions/improvements... historical memory, not AllRegs*"
Dave Pressel  :  "I believe it is >6 months if it is an investment"
Sung Kim  :  "there is no waiting period to use current a/v"
Sung Kim  :  "its an overlay if there is one"
Tim McNerney  :  "how long after an investment property was up for sale can you start the process to cash out once you take it OFF the market?"
Nathan Miller  :  "6 months"
Matt Hodges  :  "today is looking like a repeat of yesterday, looking like a repeat of Friday"
Barbara Healy  :  "Groundhog Day: The Mortgage Years"