Register or Sign in        Email This Page     Link To This Page    
Visit MND at MBA in NYC!
1,270
# of Questions
 

Send Article via Email

REGISTERED USERS (Free!):
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 8 and 4 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:
Harry Chriest |
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.
Stronger Overnight, Marginally Weaker To Start
Posted to: Micro News
Friday, February 15, 2013 9:13 AM

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

Bond markets began the overnight session in positive territory on weaker Asian equities markets and strengthening in Yen. 10yr yields remained well correlated with Yen throughout the session, with both turning a weaker corner around 4:30am, along with German Bunds. As is frequently the case, Bunds set the tone for most of the European session and led the charge (gently) higher in yield for Treasuries.

10's came in the door almost perfectly in line with yesterday's closing marks, as did MBS, with both weakening slightly before and after stronger-than-expected NY Fed Manufacturing data. Fannie 3.0s began at 102-30+ and are down two ticks to 102-28+ at the moment. S&P's have clawed back from a few points of weakness overnight to sit almost perfectly in line with yesterday's close.

With Empire State out of the way, and the stronger reading having been weathered well by bond markets, attention shifts to Industrial Production at 9:15am followed by an eye on the stock lever at the 9:30 opening bell and Consumer Sentiment at 9:55am.

So far markets are looking "well-behaved," into a 3-day weekend, and our belief in a genuine indecisiveness among traders regarding current levels is playing out well so far. Big surprises in data may change that, and the afternoon before a 3-day weekend can always "leak" in either direction, but apart from those eventualities (and perhaps big G20 headlines), so far, so good.




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 4.10%
  • |
  • 15 Yr FRM 3.26%
  • |
  • Jumbo 30 Year Fixed 3.97%
MBS Prices:
  • 30YR FNMA 4.5 107-30 (0-01)
  • |
  • 30YR FNMA 5.0 110-07 (0-01)
  • |
  • 30YR FNMA 5.5 111-06 (0-02)
Recent Housing Data:
  • Mortgage Apps -2.68%
  • |
  • Refinance Index -3.98%
  • |
  • FHFA Home Price Index 0.67%