We COULD complain about the absence of volume and volatility in bond markets at the moment.  Or we could observe that the calm, relatively sideways trading of the past 2 days left MBS and Treasuries at their best 3pm closing levels since mid October.

As we discussed yesterday, that move to stronger levels is generally a result of Powell getting the nomination to be the next Fed Chair as well as the likely hurdles faced by tax reform (due to the contentious bill released last week).  Congressional leaders are already commenting on new versions of the bill being released later this week, and it now looks like the Senate is drafting their own version for Friday.  

Between now and then, there hasn't been much to catch the bond market's attention, but the trend has been friendly in terms of technical momentum.   Tomorrow's 10yr Treasury auction could be the first informative market mover of the week in terms of scheduled events (1pm).


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
103-03 : -0-01
Treasuries
10 YR
2.3163 : -0.0037
Pricing as of 11/7/17 5:41PMEST

Today's Reprice Alerts and Updates
A recap of Alerts and Updates provided to MBS Live subscribers.
12:35PM  :  Don't Get Too Caught Up With The 2-Day Chart
10:16AM  :  Slightly Weaker Overnight but Well Within Yesterday's Range

MBS Live Chat Highlights
A recap of featured comments from the Live Discussion on the MBS Live Dashboard.
Steve Chizmadia  :  "Lillian, I'd start by asking your lender if they are a member of this site. If they are not, they should be."
Dominick Cordone  :  "another little nugget we learned from a call to FNMA, you can use self employed income from the most recent return, even if less than 1 yr, so long as they have been in the field or another business for 2 full. (cannot use w2 income paid from that business however)"
Dominick Cordone  :  "fyi, fnma will do 1 yr returns under 5 yrs owned, if the file is strong enough"
Ted Rood  :  "5 day chart is pretty. Bet if you put some trend lines on it, they'd point in the right direction."