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Bonds hold steady as summer trading stays thin

Mortgage-backed securities rose about 0.09 and the 10-year Treasury yield fell 2.1 basis points to 4.465%.

Reported · Written up by our desk · Residential

Mortgage News Daily reports that bond markets saw little movement on a relatively thin summer Monday, with volume expected to be among the lightest full trading days of the year. The outlet attributes the quieter conditions to fewer traders consistently working bond desks, particularly on days near 3-day holiday weekends.

According to Mortgage News Daily, the session looked similar to an extra weekend day, and investors were left to wait for a clearer read on how bonds feel starting Tuesday.

On the day, mortgage-backed securities were up 3 ticks, about 0.09, while the 10-year Treasury yield declined 2.1 basis points to 4.465%. The outlet called the start of the week somewhat constructive after last week’s selling pressure.

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