Good Friday AM,
Holiday shortened trading day (one hour left) with no economic news and markets closed on Monday has equities flat, the 10yr at .66 and mortgage bonds off a bit.. Today’s Mortgage Bond movement is more a factor of housekeeping (i.e. not a lot of opportunistic or strategic trading going on). Things should be back to normal come Tuesday. This week has been a good one, even if we lose a bit in the next hour. Nothing is too troubling in Mortgage bond land if it’s occurring inside the range we are in.
Very short today.
Please stay healthy, enjoy the holiday weekend and make today great!