Today was super slow for bond markets with 10yr yields holding under the same ceiling that was in place on Friday (2.25+).  At the same time, the lower yields of the day continually crept higher, making for an even narrower "consolidation range" compared to the one that began to take shape late last week.

There were no significant events or economic reports on the calendar today, and only a few potentially relevant newswires.  Stocks and bonds both made gains at the 9:30am NYSE open, but bonds were done with the trend of improvement within 30 minutes.  From their, yields drifted gradually higher, (but again, never breaking above Friday's highs) into the close.  

MBS did a better job of holding steady relative to Treasuries.  This can likely be attributed to the upcoming Treasury auction supply this week as well as fairly hefty slate of corporate bond issuance (which creates more Treasury-specific pressure).


MBS Pricing Snapshot
Pricing shown below is delayed, please note the timestamp at the bottom. Real time pricing is available via MBS Live.
MBS
FNMA 3.5
102-32 : -0-01
Treasuries
10 YR
2.2520 : +0.0070
Pricing as of 5/22/17 5:08PMEST

Today's Reprice Alerts and Updates
A recap of Alerts and Updates provided to MBS Live subscribers.
10:34AM  :  Bonds Bounce Back on First Political Newswire

MBS Live Chat Highlights
A recap of featured comments from the Live Discussion on the MBS Live Dashboard.
Ryan Bier  :  "thanks JT and TR. No, haven't submitted it yet. Just happen to glance at the glaring 0's in the trended data for "actual payments"...."
Ted Rood  :  "Yes, and we'll also have to count the payment shown on trended credit data history rather than the minimum, since borrowers clearly have been paying more than the minimum. ;)"
John Tassios  :  "The issue i ran into with trended data is if a debt ( esp installment ) is paid off early, 2 to 4 months before putting in application UW's been asking for supporting bank stmt to show source of payment for paying off balance. I had an UW ask for one that was paid 7 months prior to app. So where does this end? Do we now need to nickle and dime paying off debts a bit earlier and jumping thru more un necessary hoops?"
Ryan Bier  :  "anyone run into the new "trended data"? I have a couple of months with 0 in the actual pay, but no 30's."
Matthew Graham  :  "RTRS - KAPLAN CALLS FOR REDUCTIONS IN FED'S BALANCE SHEET TO START LATER THIS YEAR"
Matthew Graham  :  "RTRS - KAPLAN SAYS HE'LL BE 'PATIENT' IN ASSESSING INFLATION DATA"
Matthew Graham  :  "RTRS - FED'S KAPLAN REPEATS THAT THREE INTEREST-RATE HIKES IN 2017 'APPROPRIATE'"