For the bond market St Paddy's day was a 2 week celebration of "green" (as in the color of price gains or falling yields on trading terminals) beginning on March 4th.  Eight of those 10 business days saw yields move lower with last Friday marking the 2nd lowest closing levels in well over a year.  

It's only natural for bonds to need a bit of a break after all that partying.  They joined plenty of other revelers who may have had too much green recently in taking the day off today.  Granted, there wasn't any sort of official market closure, but it would have been hard to notice if there was!  Volume was in line with the lowest levels of the year for a full business day and volatility was nowhere to be found.

The absence of volatility is a victory of sorts, considering yields are so close to long term lows and that the stock market broke above a key ceiling to make solid gains on the day.  

Participation, volume, and volatility are all expected to increase into (and especially after) Wednesday's FOMC Announcement.


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
100-20 : -0-01
Treasuries
10 YR
2.6050 : +0.0120
Pricing as of 3/18/19 5:01PMEST

Today's Reprice Alerts and Updates
A recap of Alerts and Updates provided to MBS Live subscribers.
11:20AM  :  Bonds Dead Calm Despite Stock Gains

MBS Live Chat Highlights
A recap of featured comments from the Live Discussion on the MBS Live Dashboard.
Ted Rood  :  "Another example of the greatness of the MBS Live community!"

Economic Calendar
Time Event Period Actual Forecast Prior
Monday, Mar 18
10:00 NAHB housing market indx Mar 62 63 62
Tuesday, Mar 19
10:00 Factory orders mm (%) Jan 0.3 0.1