Register or Sign in        Email This Page     Link To This Page    
Visit MND at MBA in NYC!
# of Questions Answered

Send Article via Email

Can forward to 6 email addresses at a time. Register or Login

Registered users also get the additional advantage of Co-branded Emails and Landing Pages. Learn more about these features.

Your Name: 
Your Email: 
I want to forward this to
(Enter Email Address Below) :
Include a Personal Message (optional)

Please add 4 and 7 and type the answer here:
Leave this field blank.
Email Preview Below:
This feature is now 100% free. Learn More About Co-branded Email and our other Co-branded Services.
This email was sent to you by:
Anonymous |
Mortgage News Daily

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.
Markets Go "Risk-On." Treasuries Doing OK, But MBS Suffer
Posted to: Micro News
Friday, February 8, 2013 9:18 AM

Forward this email:  Send a copy of this story to someone you know that may want to read it.

The illiquidity potential mentioned in this morning's Day Ahead, is playing out in far far grander fashion than we might have expected with wide buyers and sellers reading from two different scripts, neither side fully sure of where the real market is or should be. The extra bit of volatility and uncertainty that's come along with this morning's illiquidity could, in part, draw on the uncertainty introduced by the Boxer bill being reintroduced yesterday, as well as earlier news that 45 members of the house urged the President to replace DeMarco (Huff Post story).

Whatever the underlying attributions may be, what's clear is that MBS are struggling for MBS-specific reasons. That struggle is only marginally compounded by weaker bond markets into the morning with 10's merely edging up from 1.937 to 1.9517 currently. S&P futures have added a few points ahead of the open and are back in line with 9:50am levels from yesterday (before they started their fairly big slide).

On a positive note, as seen in the chart from the Day Ahead, If MBS manage to stabilize here, we'd still be right around the intermediate support of 103-00 after tonight's roll. The other positive is that the initial slide in prices looks to be settling down here, but perhaps most positive is that the drama is occurring before rate sheet time. That's not positive vs yesterday, but since it's no longer yesterday, we'll look on the bright side.

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.

Forward this email:  Send a copy of this story to someone you know that may want to read it.


More From MND

Mortgage Rates:
  • 30 Yr FRM 3.67%
  • |
  • 15 Yr FRM 2.95%
  • |
  • Jumbo 30 Year Fixed 3.62%
MBS Prices:
Recent Housing Data:
  • Mortgage Apps 10.03%
  • |
  • Refinance Index 11.33%
  • |
  • Purchase Index 8.43%