Bond markets began the week in underwhelming fashion, with both MBS and Treasuries ending the day very close to unchanged compared to Friday's latest levels.  Movement was in the right direction (both were slightly stronger), but not at first.  

Bonds began the day in weaker territory but then followed European yields to stronger levels by the end of the European trading session (around the middle of the day in New York).  Those last few hours of European trading provided today's only positive momentum in the US.  Right after Europe closed, US bond markets were completely flat.

There were no significant economic reports or events on the calendar, save for a few Fed speeches (which turned out to be inconsequential), and it showed in volumes.  Today was one of the lightest days of the year so far--not an uncommon phenomenon on summertime Mondays.  Things should pick up as the week progresses, but Friday, especially, will be relevant due to the CPI data at 8:30am.  


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
103-08 : +0-02
Treasuries
10 YR
2.2566 : -0.0124
Pricing as of 8/7/17 5:54PMEST

Today's Reprice Alerts and Updates
A recap of Alerts and Updates provided to MBS Live subscribers.
11:46AM  :  Bonds Edge Into Positive Territory in Quiet Trading

MBS Live Chat Highlights
A recap of featured comments from the Live Discussion on the MBS Live Dashboard.
Brian Hofmann  :  "CT-there are 2 separate sections above grade and below grade. Appraiser can't treat the below grade rooms in the same manner, they have to be put in the below grade area."
Matt Elston  :  "If you have comparables below grade = confirmation"
Charles Tadros  :  "Can anyone confirm if bathrooms and bedrooms below grade are not counted as such on the appraisal?"
Alan Craft  :  "Yes. Employer can give gift."
Ray Blindauer  :  "Question for the experts: On FHA, can a borrower's company gift the funds to the borrower for the down payment?"