In hindsight, it's been a boring week for bonds with each trading day falling mostly inside Monday's range and easily inside the 2-day range set by Friday and Monday.  Flat trading isn't all that uncommon, but it's less common when it follows a surge to the lowest yields in nearly 2 years.  

All that having been said, we haven't seen much reason for rates to move higher or lower this week.  If markets are concerned with global growth risks and if they're taking cues from central banks, we haven't seen any new narratives so far.  The next good opportunity for that to change will be with tomorrow morning's jobs report.  

As for today's minutia, there was some narrow-range volatility early this morning surrounding the European Central Bank announcement and press conference.  Domestic economic data was a non-event.  Bonds were moderately stronger early and then gave up ground in the afternoon.  US/Mexico tariff headlines caused more narrow-range volatility late in the day but none of it was enough to threaten even yesterday's highs/lows, let alone those set earlier in the week.

MBS Pricing Snapshot
Pricing shown below is delayed, please note the timestamp at the bottom. Real time pricing is available via MBS Live.
FNMA 3.0
100-12 : +0-01
10 YR
2.1210 : -0.0020
Pricing as of 6/6/19 6:02PMEST

Today's Reprice Alerts and Updates
A recap of Alerts and Updates provided to MBS Live subscribers.
3:05PM  :  Bonds Temporarily Weaken After Tariff Update; Reprice Risk is Limited
10:38AM  :  Bonds Shake Off Post-ECB Weakness

MBS Live Chat Highlights
A recap of featured comments from the Live Discussion on the MBS Live Dashboard.
Rob Clark  :  "US considering delaying the Mexico tariffs. Bloomberg."

Economic Calendar
Time Event Period Actual Forecast Prior
Thursday, Jun 06
8:30 Labor Costs Revised (%) Q1 -1.6 -0.8 -0.9
8:30 Productivity Revised (%) Q1 3.4 3.5 3.6
8:30 Jobless Claims (k) w/e 218 215 215
8:30 Continued jobless claims (ml) w/e 1.682 1.660 1.657
8:32 Mario Draghi Press Conference *
Friday, Jun 07
8:30 Non-farm payrolls (k)* May 185 263
8:30 Unemployment rate mm (%)* May 3.6 3.6
10:00 Wholesale inventories mm (%) Apr 0.7 0.7