As far as Mondays after NFP Fridays go, today could have been worse.  On occasion, these Mondays can serve to perpetuate a new trend set in motion after an indecisive sideways slide heading into NFP (nonfarm payrolls, the key component of the Employment Situation Report).  There's always a bit of suspense over the weekend when Friday sees a significant move.

But today we got an uncommonly calm post-NFP Monday.  Volume just barely broke above the lowest non-holiday sessions of 2014, and even then, only because of the Asian and European sessions (which were more active).  On the domestic front, there was nothing on the calendar to offer inspiration and bond market flows were relegated to following other markets and guessing at the latest potential hedging of corporate debt.

There were some supportive comments from Chicago Fed Pres Evans, but no resulting market movement.  Both MBS and Treasuries managed to hold unchanged levels in the morning and grind out a few ticks of improvement into the afternoon.  Lenders who'd priced more cautiously out of the gate were thus able to offer some token "stability reprices," but this was the exception, not the rule.

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
96-12 : +0-06
FNMA 3.5
100-24 : +0-06
FNMA 4.0
104-10 : +0-05
2 YR
0.3735 : +0.0005
10 YR
2.7770 : -0.0150
30 YR
3.7188 : -0.0052
Pricing as of 3/10/14 4:45PMEST

Today's Reprice Alerts and Updates
A recap of Alerts and Updates provided to MBS Live subscribers.
3:01PM  :  Still Very Quiet; Some Reprices After Modest Improvements
10:56AM  :  European Markets and Stocks Helping Bond Markets
9:22AM  :  Bond Markets Little Changed After Quiet Overnight Session

MBS Live Chat Highlights
A recap of featured comments from the Live Discussion on the MBS Live Dashboard.
Andy Pada, Jr.  :  "does 5/3 advise why they are exiting?"
Bill Laffey  :  "AP: As you are aware, there have been significant changes within the mortgage industry over the past several years. Fifth Third conducts regular reviews of the industries we serve based on the changing competitive and regulatory environment. Based on the current environment, and after careful consideration, we have decided to exit the Wholesale business and focus third party origination on Correspondent Lending."
Matt Hodges  :  "that's a great statement"