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Moderately stronger overnight. MBS up just over a quarter point and 10yr down 5bps at 4.302
Near best levels with MBS up more than 3/8ths and 10yr down 5.3bps at 4.298
MBS up 11 ticks (.34) and 10yr down 4.2bps at 4.31
Off the best levels after quarter-end rebalancing trades. MBS up only 10 ticks (.31) and 10yr down only 3 bps at 4.322
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TRUMP TO NEW YORK POST: MY MISSION WAS TO PREVENT IRAN FROM POSSESSING A NUCLEAR WEAPON, AND I SUCCEEDED
IRAN'S PRESIDENT PEZESHKIAN: WE'RE READY TO END WAR, BUT WANT GUARANTEES
This doesn't really seem like big news considering Iran has said they "want guarantees" since last week, but there are no other newswires that coincide with the movement we're seeing in bonds (and stocks, and oil).
Specifically, 10yr yields just dropped from 4.33 to 4.29+ in short order and MBS popped 6 ticks (.19) higher for a total of more than 3/8ths of a point on the day.