Mortgage-backed securities (MBS) have improved today despite the yield on the 3 Yr Treasury Note auction coming in higher at 1.437% than analysts were expecting.  There was strong bidding, with the 2nd best bid-to-cover rate on record for a 3 Yr Note auction. The bid-to-cover ratio was 3.13 which means that there were approx $125 billion of bids placed for the $40 billion of notes being auctioned.  Stocks were flat today.