|
|
|
|
Stronger start as Bessent floats notion of Hormuz deal this week. Oil and bond yields down. MBS up an eighth and 10yr down 1.5bps at 4.66 (down almost 5bps from overnight highs).
MBS up 11 ticks (.31) and 10yr down 5bps at 4.624
MBS still up 11 ticks (.31) and 10yr down 5.3bps at 4.621
|
|
|
|
|
This morning is offering another installment of hope for some form of progress in Iran. In today's case, it was Bessent floating the notion of possible Hormuz deal as early as this week. Markets will believe it when they see it, of course, but they're certainly willing to trade the hope. After moving modestly higher overnight, oil prices and bond yields are quickly lower in response to the headlines.