Rates jumped up today. MBS prices reacted to today's economic data in the expected direction on both the upside and the downside. Weaker than expected Personal Income data lifted MBS markets early. When ISM Manufacturing came in higher than the consensus forecast, however, MBS markets moved lower for the rest of the session.

Tomorrow, no economic data will be released. Early election results may influence MBS prices during the session. The important FOMC meeting announcement will come out on Wednesday. The next couple of days may continue to be highly volatile.