Initially stronger after CPI data, but now turning red after PMI data. MBS unchanged and 10yr up 1.2bps at 4.013
Crawling back into positive territory. MBS up an eighth and 10yr down 1.2bps at 3.99
Heading out at just slightly stronger levels with MBS up an eight and 10yr yields down half a bp at 3.997
MBS are off nearly an eighth from their post-data highs and 10yr yields are back into negative territory after the S&P PMI data. As is almost always going to be the case, the services index carries more weight and it rose to 55.2 from 54.2 last time, well above the 53.5 forecast.
10yr yields are now up 0.6bps at 4.008 and MBS are back near unchanged on the day.