There are three kinds of uneventful trading days: inconsequentially stronger, inconsequentially weaker, and unchanged.  Bond markets stood a good chance to trade uneventfully today, and so far, they've drawn the "slightly weaker" card.  This extends the losses from Friday morning, but in true uneventful fashion, the pace of the weakness has lightened up this morning.

The overnight session pushed 10yr yields about 2bps higher overnight, and after losing another bp, 10's are back where they began the domestic session at 2.617. 

For their part, MBS are performing at least as well as Treasuries, and have even gained back more of their opening losses.  Fannie 3.5s are up to 102-09 after opening at 102-08.

The economic calendar is empty and we've seen no headlines worthy of stopping the presses. Fed's Bullard was out earlier saying that the economy is as good as it has been and that if growth were to come in at 3% next quarter, the monetary policy "conversation" would change.  He also mentioned an earlier potential lift-off time frame for the Fed Funds rate, but markets didn't seem to care. 

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
97-29 : -0-06
FNMA 3.5
102-10 : -0-04
FNMA 4.0
105-18 : -0-03
2 YR
0.4227 : +0.0197
10 YR
2.6131 : +0.0161
30 YR
3.4523 : +0.0153
Pricing as of 6/9/14 12:03PMEST

Morning Reprice Alerts and Updates
A recap of Alerts and Updates provided to MBS Live subscribers.
9:22AM  :  Bond Markets Threaten Another Move Weaker after Downbeat Overnight Session

Live Chat Featured Comments
A recap of featured comments from the Live Discussion on the MBS Live Dashboard.
Christopher Stevens  :  "I am actually very interested to see how the auctions go this week"
Matthew Graham  :  "MBS' monthly settlement (aka "the roll") is tomorrow night for Class A coupons (Fannie and Freddie 30yr Fixed). Here's the schedule if you'd like to bookmark it: (the roll occurs on the evening of "Notification Day")."
joon choi  :  "when is the next bond rollover?"
Sung Kim  :  "i would prefer sooner rather than later... thinking this weeks auction will have an outsized impact this week"
John Tassios  :  "sooner or later, investors will realize the US TSY's are a good value compared to other bonds worldwide."