Economic News

MBS prices and the bellwether 10 yr note improved Friday. Not on the data but on two other events; the Treasury will no longer be able to issue new debt as the debt ceiling has been hit. Treasury Sec Mnuchin saying Treasury will have enough money to pay its bills through October and although the debt ceiling will be increased eventually, until that happens no more debt will be issued. That obviously lessens supply and in turn should add some support for US interest rates.

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