Last Session Recap

• NFP worse than expected
• MBS and Tsy's rallied, but gave back a medium amount after 3pm
• Continued absence of MBS killers
• No MBS Messiahs yet either
• "searching/waiting for guidance" to become July's most annoying cliche

The AM So Far...

• completely flat (chart may not look it, but price changes at the moment are nil)
• Only data: ISM non-mfg at 10AM
• nothing much going on until Wednesday's 10yr auction.
• someone hit the gong, because we're (you guessed it) Waiting For Guidance!

MBS QUOTES (and other cool stuff)

Charts

7/3 EFFECTIVE FED FUNDS:   -0.01  to  0.16  from 0.17

LIBOR FIXINGS

O/N LIBOR:    -0.0062    to  0.2606   from  0.2669

1 MONTH:      +0.0006   to  0.3019   from  0.3013

3 MONTH:      -0.0106    to  0.5481   from  0.5587

6 MONTH:      -0.0200    to  1.0313   from  1.0512

1 YEAR:          -0.0175    to  1.5137   from  1.5313