MBS & US Treasury Markets
5/21 12:07:46PM EST : Delayed Data

Bonds spent most of the overnight session moving sideways to slightly stronger, but everything changed at 6:20am. That's when news broke regarding a statement from Iran's Khamenei saying that Uranium should not leave the country. Given that this is a sticking point for peace negotiations, the response in bonds/oil/etc was immediate and clear. Yields rose from 4.575 to 4.62 and continue to trade near there ever since.

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While there was a decent little chunk of line items on the econ calendar at 8:30am this morning, none of them generated any volume or volatility.

08:31 AM

Weaker overnight as Iran says it's keeping nuclear material. MBS down a quarter point and 10yr up 3.2bps at 4.62