Bonds Continued Drifting Weaker Throughout The Day (10yr Hit 4.6%)
Fri, May 15 2026, 5:12 PM
MBS Recap
Bonds Continued Drifting Weaker Throughout The Day
MBS Recap Matthew Graham | 5:07 PM
Bonds Continued Drifting Weaker Throughout The Day
Nothing new or interesting happened during the course of the trading day. The key market movers were in place at the start of domestic trading. From an analytical standpoint, the morning commentary adequately recaps the day's bond market motivations. Yields continued drifting higher throughout the session as investors pulled out of both sides of the market in protest of the apparent extension of the Iran war timeframe. 10s ultimately tapped 4.6% and MBS flirted with a 3/4th point day-over-day drop. In the bigger picture, mortgage rates are doing much better than Treasuries compared to last year's levels thanks to GSE bond buying.
Sharply weaker overnight. MBS down more than 3/8ths and 10yr up 6.5bps at 4.55
11:47 AM
weakest levels. MBS down 5/8ths and 10yr up 10.2bps at 4.586
02:47 PM
MBS now down .75 and 10yr up 11bps at 4.595
Lock / Float Considerations
5/15/26 -Any time yields have a sharp range breakout and hit levels not seen for a year, all bets are off. Yes, it continues to be the case that a peaceful resolution to the Iran war will likely push rates lower, but it's also the case that the timeline is unknowable.
