• European bonds did not lead the way lower for a change
  • But European (and domestic) stock markets sure did
  • 10yr yields fell 3.1 bps to 1.613 as S&P dropped nearly 20 points 
  • Fannie 3.0s gain 3 ticks to close at 102-31

Bond markets had a good day today, and without the help of European bond markets for a change.  "Help" could be a relative term though, considering European rates remained very close to all-time lows.  Treasuries, on the other hand, managed to gain some ground, largely with the help of heavy stock losses around the world.

There were no significant economic reports today and the only apparent market mover was an updated Brexit poll showing a slightly higher probability of Great Britain leaving the EU.  We can't really assume that was the full story, however, because there was not a corresponding move in currency trading (which would have been a dead giveaway).  

The only other overt development at the time was the closing bell for European equities markets and a drop to the lows of the day in domestic equities markets.  As such we can give a nod to the good old 'stock lever' as a market mover today, even if we can't, and shouldn't, assume it will continue to be a market mover.

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
102-31 : +0-04
10 YR
1.6130 : -0.0260
Pricing as of 6/13/16 5:35PMEST

Today's Reprice Alerts and Updates
A recap of Alerts and Updates provided to MBS Live subscribers.
10:29AM  :  Stronger Overnight, But Struggling With New Lows

MBS Live Chat Highlights
A recap of featured comments from the Live Discussion on the MBS Live Dashboard.
Victor Burek  :  "yet? you say that like it will be repaid"
Hugh W. Page  :  "And a lot of it is not even being paid back yet."
Victor Burek  :  "pretty clear that student debt is at all time highs and climbng"
Victor Burek  :  "so they aren't delaying buying due to student loan debt?"
Sung Kim  :  "all those articles are bs"
Victor Burek  :  "at least starbucks will be paying them $15 an hour"
Hugh W. Page  :  "Sobering article in the newsstream about student loan debt and home ownership expectations."