MBS & US Treasury Markets
6/28 10:26:57AM EST : Delayed Data

Bonds were initially slightly stronger to start the overnight session, despite a rally in Chinese equities on more covid restriction easing.  European bond market weakness led the reversal at the start of the EU session.  To put the spillover in perspective, German Bund yields are up more than 10bps while US 10s are up only 5 (3.253%).

MBS are still trying to settle into a liquid range but are currently down 7 ticks (.22) at 99-13 (99.41).

08:43 AM

Higher oil/stocks overnight + European bond market weakness = moderate weakness in US bonds overnight.  10yr starting out 4bps higher at 3.243 and 4.5 UMBS down just over an eighth of a point.