For the first time since 2006, market participants didn't get a weekday off for Veterans Day.  For all intents and purposes, traders ended up taking today off anyway--at least when it comes to bond market volumes and outright changes.  

10yr yields were nearly unchanged, rising half a basis point to end at 2.407.  Fannie 3.5 MBS were 1/32nd higher on the day at 102-15.  If we leave it at the closing levels compared to Friday, nothing happened today, but for those who happened to follow along with the intraday market movement, it was a bit bumpier.

Treasuries began the session with some decent gains.  10yr yields were as low as 2.37 just before the domestic hours began.  Weakness picked up at the CME open and NYSE open (lower volume days often see opening bells for various exchanges cause movement in bonds, and other markets), and remained intact through the close of the European session. 

Treasuries leaked just slightly higher in yield at the very end of the day (MBS managed to leak less), but volume was so light that it doesn't make sense to read much into it.  And again, end-of-day levels were effectively unchanged.

The event calendar picks up starting tomorrow, so today was likely the last we'll see of the unofficial days off for markets.


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
102-15 : +0-01
Treasuries
10 YR
2.4073 : +0.0073
Pricing as of 11/13/17 5:52PMEST

Today's Reprice Alerts and Updates
A recap of Alerts and Updates provided to MBS Live subscribers.
4:44PM  :  Back at Worst Levels into The Close; Limited Consequences
11:26AM  :  ALERT ISSUED: Approaching Negative Reprice Risk Threshold
10:45AM  :  Bonds Coping With Pressure Fairly Well so Far

MBS Live Chat Highlights
A recap of featured comments from the Live Discussion on the MBS Live Dashboard.
Christopher Stevens  :  "JT- In your post at 11:23 you make no mention of foreign buying in the 10YR. I'd day that is a big factor regarding a flattening of the curve."
Dave Pressel  :  "I see what you did there"
Ted Rood  :  "Safe to say, no one said that?"
Dave Pressel  :  ""the SAFE Exam is so much fun".....said no one ever"