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MBS Show Weakness in Early Week Sell-Off: Extended holiday weekend sets the tone for low-key week in MBS

Last week got off to a slow start as many participants extended the long Memorial Day weekend into Tuesday.

Volume was significantly below normal, though mortgages did relatively well (about even to swaps and modestly underperforming the curve) under a huge Treasury sell-off (-23/32nds on the 10-year Treasury bringing...

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