Bonds improved in the morning following comments from Bessent that gave the markets more insight to his role in defusing last week's frenzy over the potential ouster. In short, he's the voice of reason and the bond market likes that. Additional gains came courtesy of 9:30am NYSE tradeflows. At the time, stocks were sinking. Then in the afternoon, stocks rebounded without pulling bond yields higher.
Market Movement Recap
10:59 AM
Flat overnight but gaining ground in AM hours following Bessent comments on Fed and NYSE opening bell volatility. MBS up 5 ticks (.16) and 10yr down 4.1bps at 4.339
01:02 PM
Little-changed versus 11am levels and mostly sideways since then
03:48 PM
best levels of the day with MBS up 5 ticks (.16). 10yr still flat at stronger levels, down 4.3bps at 4.337
MBS Market Alerts
