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Choppy and slightly stronger. MBS up an eighth and 10yr down 3.7bps at 4.327
Near best levels. MBS up 5 ticks (.16) and 10yr down 5bps at 4.315
Relatively weak 5yr auction but no major reaction. MBS up an eighth and 10yr down 3.6bps at 4.329
Holding sideways at similar levels. MBS up 5 ticks (.16) and 10yr down 4.2bps at 4.323
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There have been various comments from U.S. officials about ending the war for several weeks (i.e. on March 9th, Trump said the war could be over soon). Yesterday's developments (Trump comments on the war being "won" and the 30-day ceasefire news from Israel) are being taken more seriously by markets or at least seriously enough to get trading levels back to where they were after Monday morning's ceasefire/talks news. Oddly enough, oil prices and bond yields are holding onto the gains despite Iran refuting negotiation claims and launching another wave of air strikes.