MBS MID-DAY: Narrow Holiday Range Persists; Claims Data Unimportant


MBS continue to bounce along at the same prices that characterized the tight range seen during the last 2-3 hours of Tuesday’s session.  Fannie 4.0s haven’t been lower than 102-23 or higher than 102-27.  

10yr yields are a bit higher now compared to opening levels, up 1.5bps on the day to 2.998.  The morning’s Jobless Claims data was a non-event.  Even if it had been a more relevant piece of data, there just isn’t enough participation in bond markets to meaningfully, logically respond to economic events today.

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