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Calm overnight session and a flat start. MBS up 1 tick (.03) and 10yr up 0.3bps at 4.088.
Flat at strongest levels. MBS up 1 tick (.03) and 10yr down 1.3bps at 4.072
Still little changed. MBS are perfectly flat and 10yr yields are less than half a bp higher at 4.089
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Although bonds began the day in roughly unchanged territory, they began losing ground shortly thereafter. Things changed at the 9:30am NYSE open as stock losses helped arrest the selling pressure. Then at 10am ET, weaker Consumer Sentiment data (with a record low in current conditions) helped completely erase the selling.