Bonds were moderately weaker today with Treasuries outpacing MBS in that regard.  10yr yields had fallen just over 3bps before the start of domestic trading and MBS logged their first trades about an eighth of a point weaker.  

After the start of domestic trading, however, nothing else happened.  Bonds completely flat-lined while stocks continued to spring higher from last week's pre-tariff anxiety (referring to the hard launch of tariff enforcement last Friday).  This is really the only notable positive development for bonds over the past 2 trading days--i.e. that they haven't been any weaker considering how strong the move higher in stocks has been.

Volume was the lowest of the year for a full trading day.


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 4.0
101-31 : -0-04
Treasuries
10 YR
2.8583 : +0.0273
Pricing as of 7/9/18 5:31PMEST

Today's Reprice Alerts and Updates
A recap of Alerts and Updates provided to MBS Live subscribers.
10:50AM  :  Some In-Range Support, But Will It Last?

MBS Live Chat Highlights
A recap of featured comments from the Live Discussion on the MBS Live Dashboard.
John Paul Mulchay  :  "It is incomes and supply of homes that are out of balance."
Timothy Baron  :  "So what do you call markets that are way out of balance?"
Jason Anker  :  "yea, rent to price index in hindsight looked like a great indicator"
Sung Kim  :  "there is not even close to as much of a disconnect in rents vs prices as before"
Sung Kim  :  "bubble - buying an asset solely because you think you can sell it for more in the future"
Timothy Baron  :  "I'd say certain markets are"
Sung Kim  :  "TB - we are not in a bubble"
Timothy Baron  :  "Bubble, what bubble?"
Hugh W. Page  :  "One can dream of having a float down policy I guess."
Michael Baker  :  "I currently have an "early and often" strategy for float/lock. I'm locking everything early and often... then use float down policy if need be... I haven't used a float down once this year however... so there's that...."
Oliver Orlicki  :  "unless we break 2.88, I am floating"
Michael Baker  :  "Loat or Flock... either one is a good choice."