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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.Rate Sheet Influential Mortgages Extend Rally. Reprices Reported
- 4.5 MBS up 13 ticks at 100-03
- 10yr Tsy up 9 ticks , yields more than 5bps better at 3.85
- Stocks better as well, with S&P up 4 pts to 1198
Treasuries and Stocks are "buying the rumor" today, unfortunately, one of them will likely turn out to be wrong.
Here is the FN 4.5:
[Image or graph removed from email. View full article with images]
The 10yr is at 3.85...
[Image or graph removed from email. View full article with images]
Though there are several ways to approach the strength in bonds this
afternoon, leading candidates include upcoming Federal Reserve speakers
who have been generally supportive of a low interest rate environment
and the perception that the stock rally is overdone in lieu of what is
anticipated to be a round of earnings that does not justify current
stock prices. Combine that with uncharacteristically low expectations
for inflation and bonds don't see much of a problem heading down to test
the next technical level in yields around 3.85 on the 10yr.
That has left MBS much better off today as basically all the
artificial price drop from the settlement of April coupons has been
recaptured on the current May coupons, now trading at 100-03--right
where april coupons left off on Friday night.
Reprices for the
better have been and will continue to be seen in the immediate future.
More from MND:
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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
Rate Sheet Influential Mortgages Extend Rally. Reprices Reported
- 4.5 MBS up 13 ticks at 100-03
- 10yr Tsy up 9 ticks , yields more than 5bps better at 3.85
- Stocks better as well, with S&P up 4 pts to 1198
Treasuries and Stocks are "buying the rumor" today, unfortunately, one of them will likely turn out to be wrong.
Here is the FN 4.5:
The 10yr is at 3.85...
Though there are several ways to approach the strength in bonds this
afternoon, leading candidates include upcoming Federal Reserve speakers
who have been generally supportive of a low interest rate environment
and the perception that the stock rally is overdone in lieu of what is
anticipated to be a round of earnings that does not justify current
stock prices. Combine that with uncharacteristically low expectations
for inflation and bonds don't see much of a problem heading down to test
the next technical level in yields around 3.85 on the 10yr.
That has left MBS much better off today as basically all the
artificial price drop from the settlement of April coupons has been
recaptured on the current May coupons, now trading at 100-03--right
where april coupons left off on Friday night.
Reprices for the
better have been and will continue to be seen in the immediate future.
If you would like to opt-out of receiving email forwards from this person please click here to remove your email address.