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Very flat overnight. Slightly weaker after data. MBS down 2 ticks (.06) and 10yr up half a bp at 4.30
weakest levels. MBS down 9 ticks (.28) and 10yr up 1.4bps at 4.311
10s now down 1bp at 4.285. MBS are within 1 tick (.03) of unchanged.
Best levels of the day for 10s, down 3.2bps at 4.264. MBS unchanged (also near opening highs).
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Bonds are getting back into positive territory after the following newswires:
TRUMP ASKED NETANYAHU TO REDUCE BOMBING IN LEBANON TO AID SUCCESSFUL IRAN NEGOTIATIONS, ACCORDING TO NBC REPORTS
NETANYAHU MOVES TO START DIRECT TALKS WITH LEBANON
Prime Minister Benjamin Netanyahu announced that Israel will begin direct negotiations with Lebanon, aiming to disarm Hezbollah and establish peaceful relations. He welcomed Lebanon’s call to demilitarize Beirut.
These are important steps toward de-escalation and oil prices are falling on the news. Bond yields are following with 10s now down 1bp at 4.285. MBS are within 1 tick (.03) of unchanged.