We've seen a whole lot more movement in the bond market for a whole lot less motivation than we had this week.  Back to back econ data shockers (Philly Fed and Housing Starts) were scarcely able to get yields back up to Monday morning's highs, and yields hadn't fallen very much to begin with.  

In other words: "Housing Starts Surge 40% Annually to The Highest in 13 Years" isn't really a headline that jives with 10yr yields rising less than 2bps by the close of business.  Oh, and stocks hit all time highs on 4 out of the 5 days.  Oh, and the phase 1 trade deal signing went off without a hitch.

All that to say that bonds were more than entitled to end up somewhere other than smack dab in the middle of the consolidation range that's been in effect for close to half a year now!  No objections, of course.  Rates are low, and calm Treasuries allow MBS to close the performance gap.  

Keep in mind that next week is a 4-day week with markets closed Monday for MLK 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 3.0
101-22 : -0-01
Treasuries
10 YR
1.8250 : +0.0160
Pricing as of 1/17/20 7:15PMEST

Today's Reprice Alerts and Updates
A recap of Alerts and Updates provided to MBS Live subscribers.
9:02AM  :  ALERT ISSUED: Bonds Weaker as Traders Pack up For 3-Day Weekend

Economic Calendar
Time Event Period Actual Forecast Prior
Friday, Jan 17
8:30 Build permits: change mm (%) Dec -3.9 0.9
8:30 Housing starts number mm (ml) Dec 1.608 1.375 1.365
8:30 Building permits: number (ml) Dec 1.416 1.468 1.474
8:30 House starts mm: change (%) Dec +16.9 3.2
9:15 Capacity Utilization (%) Dec 77.0 77.1 77.3
9:15 Industrial Production (%) Dec -0.3 -0.2 1.1
10:00 Consumer Sentiment Jan 99.1 99.3 99.3