This email was sent to you by:
Anonymous |
|
Mortgage News Daily
|
Message: YOUR MESSAGE HERE |
Email alerts, such as this one, are a
free service provided by Mortgage News Daily. If you would like to receive an alert when important news breaks please
register to join our community.
Register with Mortgage News Daily - Registration is free and offers many benefits.
Manage your Email Alerts - Once you're registered, you can manage all MND email alerts on one page, turning subscriptions on or off with one click.
About MND:
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 AFTERNOON: Extremely Quiet Day Winding Down
- ridiculously flat trading in MBS and Tsy's
- low volume, sparse data calendar, looking toward auctions
- Did we mention flat trading?
You'll rarely see MBS and Treasuries trade this flat for this much of the day. From 10:45 on, MBS haven't moved more than 1 tick and tsy's not more than 1bp. Volume is light on both fronts with MBS just over half recent norms. Perhaps even more telling, a quick scan down Fannie, Freddie, and Ginnie MBS from 4.0 to 6.0 shows every security in that range UNCHANGED on the day, except Ginnie 4's, currently up ONE tick. Yawn.....
[Image or graph removed from email. View full article with images]
Stocks are pretty much unchanged across big 3 indexes as well. No further data today (not like there was any this AM), and biggest event tomorrow, apart from 3yr auction, looks to be fed-speak! Other than 10yr Auction, Wednesday is dead too!
MBS tightening vs. tsy's again as the 10yr note is down 7 ticks vs. MBS unchanged. To whatever extent that's a concession for uncertainty ahead of auctions, an equal and opposite reaction could occur once that uncertainty is cleared up, making things a bit tougher for MBS.
More from MND:
If you would like to opt-out of receiving email forwards from this person please click here to remove your email address.
This email was sent to you by:
|
Mortgage News Daily
|
 |
Anonymous Anonymous |
|
Message:
YOUR MESSAGE HERE
MBS AFTERNOON: Extremely Quiet Day Winding Down
- ridiculously flat trading in MBS and Tsy's
- low volume, sparse data calendar, looking toward auctions
- Did we mention flat trading?
You'll rarely see MBS and Treasuries trade this flat for this much of the day. From 10:45 on, MBS haven't moved more than 1 tick and tsy's not more than 1bp. Volume is light on both fronts with MBS just over half recent norms. Perhaps even more telling, a quick scan down Fannie, Freddie, and Ginnie MBS from 4.0 to 6.0 shows every security in that range UNCHANGED on the day, except Ginnie 4's, currently up ONE tick. Yawn.....
Stocks are pretty much unchanged across big 3 indexes as well. No further data today (not like there was any this AM), and biggest event tomorrow, apart from 3yr auction, looks to be fed-speak! Other than 10yr Auction, Wednesday is dead too!
MBS tightening vs. tsy's again as the 10yr note is down 7 ticks vs. MBS unchanged. To whatever extent that's a concession for uncertainty ahead of auctions, an equal and opposite reaction could occur once that uncertainty is cleared up, making things a bit tougher for MBS.
If you would like to opt-out of receiving email forwards from this person please click here to remove your email address.