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Mortgage News Daily combines the expertise of some of the housing industry's leading minds with the power of social media to offer an always lively, constantly evolving web community. MND communicates breaking news, streams video, and provides expert opinion and commentary to a community of interested market professionals and curious consumers.MBS ALERT: Falling From the Highs to the Lows
Looks like the short base has not be taken out in 10s yet...
The 10yr note yield just rose to 3.54%. Hopefully we get some short covering there and a reversal. Unfortunately this is having negative effects on "rate sheet influential" MBS coupons.
The FN 4.0 is now -0-01 at 98-12 and the FN 4.5 is trading -0-03 at 100-31 after hitting an intraday high of 101-16.
[Image or graph removed from email. View full article with images]
Look how steep the yield curve is now...this is getting rediculous. Buy the curve already!
[Image or graph removed from email. View full article with images]
IF YOUR LENDER ALREADY PUBLISHED PRICING, A REPRICE FOR THE WORSE MAY OCCUR
10:15 UPDATE: The FN 4.0 is now +0-03 at 98-16 yielding 4.156%. The FN 4.5 has recovered from the lows of the day and is now trading +0-03 at 101-05 yielding 4.356%. The secondary market current coupon is 4.276%. The current coupon is +75/10yr TSY and +58/10yr swap. Tighter on the day....with the yield curve continuing to move steeper, one has to be speculative of spread widening. (Supply/demand dynamics overriding widener at the moment).
REPRICE FOR THE WORSE ALERT OVER...FOR NOW.
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This email was sent to you by:
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Mortgage News Daily
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 |
Anonymous Anonymous |
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Message:
YOUR MESSAGE HERE
MBS ALERT: Falling From the Highs to the Lows
Looks like the short base has not be taken out in 10s yet...
The 10yr note yield just rose to 3.54%. Hopefully we get some short covering there and a reversal. Unfortunately this is having negative effects on "rate sheet influential" MBS coupons.
The FN 4.0 is now -0-01 at 98-12 and the FN 4.5 is trading -0-03 at 100-31 after hitting an intraday high of 101-16.
Look how steep the yield curve is now...this is getting rediculous. Buy the curve already!
IF YOUR LENDER ALREADY PUBLISHED PRICING, A REPRICE FOR THE WORSE MAY OCCUR
10:15 UPDATE: The FN 4.0 is now +0-03 at 98-16 yielding 4.156%. The FN 4.5 has recovered from the lows of the day and is now trading +0-03 at 101-05 yielding 4.356%. The secondary market current coupon is 4.276%. The current coupon is +75/10yr TSY and +58/10yr swap. Tighter on the day....with the yield curve continuing to move steeper, one has to be speculative of spread widening. (Supply/demand dynamics overriding widener at the moment).
REPRICE FOR THE WORSE ALERT OVER...FOR NOW.
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