It's a good thing financial media outlets aren't too shy about covering topics outside the financial sphere because without the eclipse, there would have been nothing to talk about today.  Volume and volatility dropped off a cliff, abruptly.  In fact, the difference in tone was big enough that I wouldn't mind chalking up some of the ABSENCE of trading as a symptom of the eclipse.  In other words, it wasn't necessarily a market mover as much as a market inhibitor.

All that having been said, it would be hard to sort out just how much of the market's quietude was attributable to eclipse as opposed to the simple nature of the Summertime trading environment.  Mondays tend to struggle for relevance in August regardless of astronomical events.

If the eclipse possibly didn't matter, why am I still talking about it?  Again, because there's literally nothing else to talk about today.  Bonds started in slightly stronger territory, but remained well-within Friday's range.  Both MBS and Treasuries generally orbited Thursday's latest levels and we continue waiting on more liquidity and volume before getting a better sense of how this week will shape up.


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
103-10 : +0-01
Treasuries
10 YR
2.1834 : -0.0106
Pricing as of 8/21/17 4:46PMEST

Today's Reprice Alerts and Updates
A recap of Alerts and Updates provided to MBS Live subscribers.
12:38PM  :  Weakest Levels, But Reprices Not Likely Without Further Losses
9:07AM  :  Bonds Inconsequentially Stronger to Start

MBS Live Chat Highlights
A recap of featured comments from the Live Discussion on the MBS Live Dashboard.
Kent Mikkola  :  "also, Fannie says: New Subordinate Financing When a borrower obtains new subordinate financing with the refinancing of a first mortgage loan, Fannie Mae treats the transaction as a limited cash-out refinance provided the first mortgage loan meets the eligibility criteria for a limited cash-out refinance transaction. Note: It is acceptable for borrowers to obtain cash from the proceeds of the new subordinate mortgage."