Range-Bound Cruise Control, PM Edition

Range-Bound Cruise Control, PM Edition Bonds came into the domestic session at slightly weaker levels and held mostly sideways for the entire day. There were no meaningful market movers in play, let alone any meaningful movement. Volume clocked in at the lowest non-holiday level of the year. NOTE: this week's analysis will be shorter and more basic than normal unless something interesting happens. Market Movement Recap 09:25 AM modestly weaker overnight and holding sideways so far.  MBS down 2 ticks (.06) and 10yr up 2bps at 4.16 01:52 PM MBS still down 2 ticks (.06) and 10yr up 2.8bps at 4.168 03:37 PM MBS down 1 tick (.03) and 10yr up 2.6bps at 4.166