No Data, No Volatility

Bonds were only open for half the day due to the national day of mourning for Jimmy Carter.  Overnight markets made for a slightly stronger start and those gains slowly eroded throughout the day.  MBS closed at perfectly unchanged levels and 10yr yields were a hair lower as Treasuries continue “healing” after this week’s auction cycle.  Friday morning brings the jobs report, which is just as much of a potential volatility flash point as it always is.

Market Movement Recap

10:25 AM Stronger overnight, with some slight backtracking.  MBS up 3 ticks (.09) and 10yr down 3.3bps at 4.669

12:24 PM weakest levels. MBS still up 2 ticks (.06) and 10yr still down 2.5bps at 4.676