Relative to the first two days of the week, today's biggest loser (in terms of bond yields) is Europe.  German Bund yields rose less than Treasuries in the overnight session, fell first, and fell more overall.  The initial motivation was a strong German debt auction at 5:30am ET, but weak economic data in the Eurozone helped as well.

2014-8-13 bundtsy

Treasuries resisted the rally at first (see the yellow line above staying mostly sideways today until just after 8am).  When Retail Sales came in weaker than expected, US bond markets had their cue to embark on their own rally.  MBS have done a good job keeping pace with Treasuries and are, in fact, outperforming compared to yesterday's ranges (i.e. MBS are into new highs while Treasuries are still in the 2-day range--likely a factor of pre-auction anxiety).

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
98-22 : +0-07
FNMA 3.5
102-14 : +0-07
FNMA 4.0
105-19 : +0-06
2 YR
0.4200 : -0.0160
10 YR
2.4240 : -0.0180
30 YR
3.2570 : -0.0100
Pricing as of 8/13/14 11:56AMEST

Morning Reprice Alerts and Updates
A recap of Alerts and Updates provided to MBS Live subscribers.
8:51AM  :  Bond Markets Into Positive Territory After Retail Sales Data

Live Chat Featured Comments
A recap of featured comments from the Live Discussion on the MBS Live Dashboard.
Stephen Mitroka  :  "this service is great in weeks like we are having. great job MG"
Victor Burek  :  "German Bund almost back to all time lows..1.04"
Victor Burek  :  "not good news for q3 gdp"
Victor Burek  :  "not so great data out of Europe last night, but their stocks are on fire"