Dan Beam
M: (215) 416-4657
MBS & US Treasury Markets
UMBS 5.0
98.27 +0.22
GNMA 5.0
98.69 +0.18
UMBS-15 5.0
100.47 -0.02
10 YR TREAS
4.453 -0.031
30 YR TREAS
4.983 -0.031
5/28 2:24:43PM EST : Delayed Data
30YR UMBS 5.0 30YR GNMA 5.0 15YR UMBS 5.0 10 Year Treasury 30 Year Treasury
Guess What. Another War Headline. Another Volatile Response
Thu, May 28 2026, 10:20 AM

Axios reporting a rehashed version of yesterday's "memo" news, which was a rehash of Monday's memo news, etc etc.

But it sounds like a more forceful announcement of a completed deal.  The catch is that it's very clear about saying it still needs Trump's approval, but the market is happy to take a lead-off.

10yr now down 2.8bps at 4.457 and MBS up a quick 6 ticks (.19). Don't be surprised to see "yeah but" headlines in the coming hours and additional volatility. 

MBS Morning:
Not The Supertanker Bonds Were Looking For... But We'll Take It
Alert:
Weakest Levels
08:19 AM

Weaker overnight on reports of ongoing hostilities in Iran. MBS down over an eighth of a point and 10yr up 2.3bps at 4.507

09:17 AM

Back near unchanged after data-driven rally. MBS down 1 tick (.03) and 10yr down half a bp at 4.479

10:59 AM

quick rally on "deal" reports and a bit of pull back on "yeah but" reports. MBS up 2 ticks (.06) and 10yr down 2.4bps at 4.46

01:02 PM

Near best levels. MBS up 5 ticks (.16) and 10yr down 3.4bps at 4.45

Dan Beam
M: (215) 416-4657
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