CONTACT ME
Bond Markets Mostly Holding Yesterday's Gains

10yr yields fell right back to the lower end of yesterday's range by the close and held almost perfectly flat almost all night.  At 5:30am, European and US bond markets moved slightly higher in yield, but the losses have been well-contained inside yesterday's range. 

There have been plenty of headlines surrounding Greece, but nothing with substance.  Most recently, German Chancellor Angela Merkel said there will be no new development on Greece today.  Those wires were out right around the time the NYSE opened, making it difficult to say whether they had an impact or if it was merely more stock/bond connection like yesterday.

Data, for whatever it's worth, has been bond-friendly this morning with both home prices and Chicago PMI coming in weaker than expected.  Consumer Confidence is yet to come (1 minute).    For now, MBS are just inching into positive territory and 10yr Treasuries are close (within .7bps)

MBS / Treasury Market Data

UMBS 5.5
98.46
+0.06
UMBS 6.0
100.15
+0.06
UMBS 6.5
101.57
-0.02
2 YR
4.8654
-0.0001
10 YR
4.4895
-0.0083
Pricing as of: 5/13 4:44PM EST
This Mortgage Market Update is provided in partnership with MBS Live and provided exclusively to MBS Live Subcribers.