Bonds struggled to find a theme in their first trading day back from a 3-day weekend.  Much of the international focus was on Catalonia's quest for independence, but headlines from the region never seemed to have a material impact on bond markets--especially US bond markets.  

In fact, it was a downright slow and boring session until roughly 9:50am when some big trades started coming through the Treasury futures complex.  For bond markets, this was the highlight of the day, and there wasn't an overt motivation anywhere to be found (though it's not uncommon to see big trades without overt motivations shortly after key opening bells for major markets--especially on the day after a 3-day weekend).

Bonds rallied to their best levels of the day on that higher-volume trading and then began to drift slightly weaker for the next 6 hours, leaving trading levels very close to 'unchanged' on the day.

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
102-31 : +0-01
10 YR
2.3571 : -0.0109
Pricing as of 10/10/17 4:48PMEST

Today's Reprice Alerts and Updates
A recap of Alerts and Updates provided to MBS Live subscribers.
3:16PM  :  ALERT ISSUED: Negative Reprice Considerations Heading Into The Close
10:04AM  :  Big Trades Push Bonds Into Stronger Territory

MBS Live Chat Highlights
A recap of featured comments from the Live Discussion on the MBS Live Dashboard.
Sung Kim  :  "so is that a maybe?"
Matthew Graham  :  "I'd be shocked if that continues. Or rather, I'd be very interested in drawing a new conclusion about markets that gives even more credit to organic momentum from trading itself as opposed to events. Reason being: 2014 had the "ECB QE expectation" trade."
Matthew Graham  :  "not week for week and day to day, but the overall shapes remain strikingly similar."
Sung Kim  :  "MG - we still looking like 2014?"