MBS Live Recap: Bonds Finally Have a Boring Day

10yr yields traded in a range of less than 3bps during the domestic session today.  From 10:30am on, that range narrowed to only 1bp.  We haven't had a day like this in a while--3+ weeks at the very least.  When things are flat and boring, there's not much to say that hasn't already been said this morning.  

Econ Data / Events
  • Fed MBS Buying 10am, 1130am, 1pm

  • Jobless Claims 348k vs 363k f'cast, 377k prev

  • Philly Fed Index 19.4 vs 23.0 f'cast, 21.9 prev

Market Movement Recap
09:33 AM

Stronger in Europe after opening flat in Asia.  Domestic hours have gone to sellers.  Data didn't have an impact.  Technical resistance in play at 1.22+ in 10yr.  Currently up to 1.252%, but still 1bp lower on the day.  MBS are effectively unchanged at 101.34 (101-11).

01:07 PM

Treasuries stabilized after 10am and MBS have been recovering slowly.  Everything has taken place inside a broader, narrow, sideways range.  Very quiet, range-bound session.  MBS up an eighth of a point.  10yr yields down 2bps at 1.24%

03:23 PM

MBS dialing back from best levels a bit, but 2.0 coupons are still 0.06 higher (+2 ticks) on the day at 101.41 (101-13).  10yr yields are up 1.3bps at 1.247%.  Not reading too much into anything in the past 30 minutes.

 Download our mobile app to get alerts for MBS Commentary and streaming MBS and Treasury prices.