MBS & US Treasury Markets
6/12 12:42:41PM EST : Delayed Data

From Iran Foreign Minister Araghchi:

The Islamabad Memorandum of Understanding has never been closer. Pending its finalization, the media should refrain from entering speculation about its content.

In line with our responsible and transparent approach, all details will be shared with the public in due course.

Bounds bouncing back on that. 10yr nearly unchanged and MBS now down only 3 ticks (.09) on the day vs a quarter point before the news.

08:43 AM

Just a hair weaker overnight. MBS down 2 ticks (.06) and 10yr up 1.3bps at 4.483

10:03 AM

Weakest levels. MBS down 6 ticks (.19). 10yr up 2.6bps at 4.495

10:48 AM

MBS down a quarter point and 10yr up 3.5bps at 4.503