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Treasuries end mixed as MBS hold steady and 10-year inches up
The 10-year Treasury yield closed up 0.2 bps to 4.79% after an early rally faded.
Bonds started the session with a rally at the open, even as oil prices rose again. Mortgage News Daily said that early resilience gave way to underperformance later in the day, while both yields and oil ended higher by the close.
By the end of trading, Mortgage News Daily reported that the 10-year Treasury yield did not break above last week’s highs. The market was roughly unchanged after overnight volatility.
Mortgage-backed securities were flat, while the 10-year was up 0.2 bps at 4.79% by the end of the day.