Bond markets started the day in weaker territory after stronger economic data out of China and follow-through on yesterday's bounce (bonds had rallied on Ukraine headlines and bounced back toward weaker levels when the headlines dried up).

This morning's domestic economic also helped.  MBS and Treasuries improved modestly after weaker-than-expected Existing Home Sales.  Shortly thereafter, stronger Industrial Production numbers made for a quick jolt to the weakest levels of the day for Treasuries, but they've since come right back to their strongest levels.

MBS are outperforming, now only a tick away from unchanged in Fannie 4.0s (104-14), but still 3 ticks off in Fannie 3.5s (101-07).

Despite a wide variety of potential market movers today, bond markets haven't really done anything yet.  Both Treasuries and MBS are trading "inside days," meaning that the entirety of today's trading range falls within yesterday's highs and lows.  Still to come is a speech from Fed Chair Yellen, which is the last significant scheduled event among potential bond market movers.

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
97-05 : -0-03
FNMA 3.5
101-06 : -0-03
FNMA 4.0
104-14 : -0-01
2 YR
0.3710 : +0.0000
10 YR
2.6409 : +0.0129
30 YR
3.4727 : +0.0127
Pricing as of 4/16/14 12:03PMEST

Morning Reprice Alerts and Updates
A recap of Alerts and Updates provided to MBS Live subscribers.
9:24AM  :  Stronger Manufacturing Data Gives Bond Markets Pause
8:48AM  :  Holding Ground in Weaker Territory After Lackluster Housing Data

Live Chat Featured Comments
A recap of featured comments from the Live Discussion on the MBS Live Dashboard.
Hugh W. Page  :  "MG - Great chart and commentary on retracement levels . Clear and easy to understand."
Sung Kim  :  "housing starts chart looks dismal"