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 OPEN: Rates at Crossroads. What Range Will Prevail?
Good Morning.
Once again, rate futures prices moved modestly lower in the overnight session...albeit in below average volume (again). What is obvious to me is the 10 yr contract's failiure to break through what I have been calling "position resistance". This is the price range where the most recent high volume sell off occurred 116-24 and 116-30
[Image or graph removed from email. View full article with images]
I suppose it is appropriate to take some solace from the fact that 10s are not doing worse, especially when you consider that stock futures made further gains overnight.
[Image or graph removed from email. View full article with images]
After four days of a limited data, which made it easy for traders to bake in a concessionary backup in TSY yields, the week's most important econ event is upon us: RETAIL SALES
In the MBS CLOSE, MG called attention to a technical crossroads in benchmark 10s, "rate sheet influential" FN 4.5s, and stocks as well. Retail sales are expected to provide the guidance necessary to either jump start my speculative rally or push benchmark 10 year note yields even further to the other half of the 2010 trading range (3.71 to 3.85).
[Image or graph removed from email. View full article with images]
Mortgage prices are lower and yield spreads are wider to start the session (DOUBLE WHAMMY!!!)The FN 4.5 is -0-07 at 100-20 yielding 4.432%. The secondary market current coupon is 4.381%. The CC yield is +62.1bps/UST10YR and +57.5/10yr IRS.
[Image or graph removed from email. View full article with images]
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 OPEN: Rates at Crossroads. What Range Will Prevail?
Good Morning.
Once again, rate futures prices moved modestly lower in the overnight session...albeit in below average volume (again). What is obvious to me is the 10 yr contract's failiure to break through what I have been calling "position resistance". This is the price range where the most recent high volume sell off occurred 116-24 and 116-30
I suppose it is appropriate to take some solace from the fact that 10s are not doing worse, especially when you consider that stock futures made further gains overnight.
After four days of a limited data, which made it easy for traders to bake in a concessionary backup in TSY yields, the week's most important econ event is upon us: RETAIL SALES
In the MBS CLOSE, MG called attention to a technical crossroads in benchmark 10s, "rate sheet influential" FN 4.5s, and stocks as well. Retail sales are expected to provide the guidance necessary to either jump start my speculative rally or push benchmark 10 year note yields even further to the other half of the 2010 trading range (3.71 to 3.85).
Mortgage prices are lower and yield spreads are wider to start the session (DOUBLE WHAMMY!!!)The FN 4.5 is -0-07 at 100-20 yielding 4.432%. The secondary market current coupon is 4.381%. The CC yield is +62.1bps/UST10YR and +57.5/10yr IRS.
If you would like to opt-out of receiving email forwards from this person please click here to remove your email address.