Monday’s bond market has opened sharply higher following news that there will be changes to the UK’s fiscal plan, which had caused the dramatic bond volatility last week. Stocks are rallying with the Dow up 528 points and the Nasdaq up 131 points. The bond market is currently up 48/32 (3.63%), but heavy selling late Friday is going to limit this morning’s improvement in rates to approximately .250 - .375 of a discount point compared to the day’s early pricing. Many lenders revised rates higher before closing Friday. If you saw an intraday increase, you should see a larger improvement this morning.
30 yr - 3.63%