Dan Beam
MBS & US Treasury Markets
3/23 2:56:34PM EST : Delayed Data

As Iran pushes back on news regarding talks with the US, bonds are quickly correcting.

MBS are still up 5 ticks (.16) on the day but down almost 3/8ths from the highs.

Lenders who aggressively repriced for the better in response to the earlier gains could now be considering negative reprices. 

09:09 AM

Weaker overnight then sharply stronger just after 7am on "war might end" headlines. MBS up 6 ticks (.19) and 10yr down 1.8bps at 4.366 after being as high as 4.442 just before 7am.

10:36 AM

Additional gains on additional Iran negotiation headlines. MBS up nearly 3/8ths and 10yr down 3.8bps at 4.345

12:49 PM

Well off highs. MBS up 5 ticks (.16) on the day and 10yr down only 1.8bps at 4.365

Dan Beam