Posted To: MBS CommentarySideways to Slightly Weaker After Another Long-Term High 10yr yields hit a 5-month high early in the overnight session and then managed to claw their way back to modestly stronger levels by the start of domestic trading. Amid a dearth of data and actionable headlines, bonds were left to “trade it out.” That seemed to go fairly well at first, but yields adjusted back toward the highs of the day after the 20yr bond auction at 1pm ET. Perhaps the more relevant detail is that 10yr yields were never able to make it below 1.62%, even at their best. 1.62% had been a ceiling 3 days ago before becoming a floor yesterday afternoon. Econ Data / Events Fed MBS Buying 10am, 1130am, 1pm Market Movement Recap 08:39 AM Weaker to start the overnight session with yields hitting multi-month highs of…(read more)Forward this article via email:  Send a copy of this story to someone you know that may want to read it.