• 10yr German Bunds hit 0.048 today
  • Tomorrow marks inception of Europe's corporate bond buying program
  • US bond markets rallied during European hours
  • Tomorrow is anyone's game

Bond markets were flat to start the overnight session.  Even European bonds didn't move too much at first, but after 5:30am, there was a solid showing among buyers.  Whether driven by reality or hope, the word on the street was that European bond buyers were getting in today ahead of tomorrow's launch of the ECB's corporate bond buying program. 

That was as good of a motivation as US Treasuries needed on a relatively newsless day.  The 8:30am economic data provided a modest boost as labor costs came in higher and Productivity confirmed lower estimates.  From there, US bond markets followed European rates into the European close and spent the rest of the day drifting sideways with absolutely no regard for a bounce in stock and oil prices.

MBS Pricing Snapshot
Pricing shown below is delayed, please note the timestamp at the bottom. Real time pricing is available via MBS Live.
MBS
FNMA 3.0
102-28 : +0-04
Treasuries
10 YR
1.7160 : -0.0070
Pricing as of 6/7/16 5:24PMEST
Today's Reprice Alerts and Updates
A recap of Alerts and Updates provided to MBS Live subscribers.
11:01AM  :  European Bonds Lead the Way Ahead of Tomorrow's Corporate Buying Debut
MBS Live Chat Highlights
A recap of featured comments from the Live Discussion on the MBS Live Dashboard.
Kevin Litwicki  :  "I would check with the lender RG, some lenders have already switched to the new upcoming guidelines."
Rob DiGiore  :  "ok I am being told differently, because its not approved and is just an estimate"
Gus Floropoulos  :  "IBR works"
Rob DiGiore  :  "On FHA student loans in deferment, are UWs letting you use the IBR payment estimate the customer gets in writing to qualify? or do you have to use the 1% payment for DTI purposes?"
Matthew Graham  :  "a bit weak, especially compared to last cycle, but we rallied into this one, so I'd cut it some slack"
Victor Burek  :  "how was auction mg?"