MBS & US Treasury Markets
5/29 8:57:14AM EST : Delayed Data

Axios reporting a rehashed version of yesterday's "memo" news, which was a rehash of Monday's memo news, etc etc.

But it sounds like a more forceful announcement of a completed deal.  The catch is that it's very clear about saying it still needs Trump's approval, but the market is happy to take a lead-off.

10yr now down 2.8bps at 4.457 and MBS up a quick 6 ticks (.19). Don't be surprised to see "yeah but" headlines in the coming hours and additional volatility. 

08:33 AM

Fairly flat overnight and little-changed to start. MBS up 2 ticks (.06) and 10yr unchanged at 4.445