Stock prices and bond yields closed at their lowest levels in more than a year yesterday.  Today was largely spent consolidating that move.  With Chinese markets still closed for the Lunar New Year holiday, Asian markets found little resistance in getting caught up with yesterday's trading.  That led bond yields even lower at the start of the overnight session with 10yr yields bottoming out at 1.682.

The tone shifted when European markets opened, but not because of any fundamental revelations about the economic or monetary situation.  Stocks and bond yields moved back up, with 10yr Treasuries briefly as high as 1.767.  They would ultimately make it back into the green, but clearly without aspirations for another big rally.

In fact, any bond market aspirations looked wholly tied to equities markets.  With stocks having a mostly flat day, bonds followed suit.  MBS did a better job of keeping pace with Treasuries today, largely because markets were much flatter.  Fannie 3.0s ended up 5 ticks at 102-23 as 10yr yields fell 2bps to 1.728.

MBS Pricing Snapshot
Pricing shown below is delayed, please note the timestamp at the bottom. Real time pricing is available via MBS Live.
FNMA 3.5
104-32 : +0-02
10 YR
1.7280 : -0.0070
Pricing as of 2/9/16 4:56PMEST

Today's Reprice Alerts and Updates
A recap of Alerts and Updates provided to MBS Live subscribers.
10:21AM  :  Stock Market Bounce Fires Warning Shot; Bonds Safe For Now

MBS Live Chat Highlights
A recap of featured comments from the Live Discussion on the MBS Live Dashboard.
Dustin McAlister  :  "3%, no way...."
John Rodgers  :  "Brian, your borrower is lying."
BIll Zigler  :  "Brian - My best lender is at 2.5 cost at 3%..."
Bryce Schetselaar  :  "make sure it isnt a "Fixed rate" on a 30 year loan (aka 5/1 arm)"
Brian McFarlane  :  "I could see maybe a $300k+ loan, but that rate with that size loan amount, I don't believe."
Jason Anker  :  "3% 30 fixed?"
Brian McFarlane  :  "VA IRRRL today $144k L/A other lender is offering 3% with no costs. Is anyone on here even close to that/"