Losing ground in choppy trading as oil rebounds. MBS down a quarter point and 10yr up 4.2bps at 4.389
weakest levels. MBS down 11 ticks (.34) and 10yr up 6.2bps at 4.409
Off lows, but choppy. MBS down 5 ticks (.06) and 10yr up 2.6bps at 4.373
Bumpy 2 year Treasury auction causing weakness. MBS down 3/8ths again and 10yr up 7.2bps at 4.42
recovering a bit after "war over soon" headlines. MBS still down 6 ticks (.19) and 10yr up 3.8bps at 4.385
Apparently, bonds aren't quite done responding to escalation/de-escalation headlines for the day, and the latest examples are having the biggest impact.
ISRAELI CHANNEL 12: ONE-MONTH CEASEFIRE TO BE ANNOUNCED UNDER MECHANISM BEING DEVELOPED BY WITKOFF & KUSHNER
MBS are quickly back up to unchanged levels. Same story for 10yr yields, now unchanged at 4.346.