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Bonds have moved just a hair weaker in response with MBS back to unchanged after being up 2 ticks (.06) and 10yr back to unchanged after being down just over 1bp at 4.283.
Quick reversal back into positive territory. MBS up 4 ticks (.125) and 10yr down 2.4bps at 4.265
Best levels of the day ahead of 7yr auction. MBS up 7 ticks (.22) and 10yr down 2.4bps at 4.265
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Visually, the number of line items in this morning's economic calendar may seem daunting. In fact, several of the reports sound like they should matter to the seasoned bond watcher (Durable Goods, GDP, etc). But as it stands, the biggest hour of trading volume this morning fell short of comparable examples from 3 of the past 4 sessions (sessions that had far less to offer in terms of calendar events). In addition, there are some mixed signals in the data that help offset bullish/bearish implications, thus leaving us fairly neutral to start the day.