Lowest Mortgage Rates in a Month

Stronger Bonds, Before and After (And Regardless of) Economic Data Bonds were stronger overnight with 10yr yields hitting roughly 4.25% even before this morning's economic data came out.  Now at the 3pm CME close, 10yr yields are still at 4.25% and they didn't stray too far from that midpoint in either direction. Data was neither friendly nor unfriendly and there was certainly no discernible reaction.  We're left to chalk up the rally to serendipitous, temporary factors such as month-end trading, holiday weekend position squaring, and the proverbial skids being greased by a light liquidity environment.  It was and always will be the plan t