A little stronger, sideways, and still waiting

A little stronger, sideways, and still waiting

Slightly strong, sideways, still waiting 1 hour, 21 minutes ago, slightly stronger, sideways, still waiting Monday’s trading session has by no means provided anything significant or interesting for the bond market. Yields fell in Europe and pushed up steadily in the first few hours of domestic trading. AM data was stronger but not significantly in sync with the selling pressure. Even then, selling was weak enough to ignore, not to mention the fact that bonds rose again in the evening hours to hit the 3pm close in modestly stronger territory. We may wait until next week’s Fed announcement for the next big source of inspiration, but economic data tomorrow and Thursday could also move the needle. NY Fed Manufacturing 1.1 vs -4.3 on a time basis, 6.6 prior 09:34 am losing morning gain. 10 years now unchanged at 3,832. Mohammed bin Salman is down by just over one-eighth (may seem more at times due to lack of cash). 12:22 PM MBS is recovering a bit, now unchanged today. 10 year down 1 basis point at 3.82 02:38 PM Modest gains continue. Mohammed bin Salman is ranked eighth. 10 years, 2.5 bps at 3.805. Download our mobile app to get alerts on MBS Suspension, MBS Stream and Treasury Rates.

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