MBS are down -4/32 (FNMA 30-yr 3.0 at 102.25), close to morning levels. No economic data was released today. A speech from Fed Chair Janet Yellen caused little reaction. Less than two weeks ago, Yellen said that the Fed likely would raise the federal funds rate in the “coming months.” Today, Yellen dropped any reference to a time frame for the next rate hike. Friday’s disappointing Employment report was one reason for the change. The Dow is up 110 points. Tomorrow, JOLTS will be released at 10:00 et. The results from the 3-yr Treasury auction will come out around 1:00 et.