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 6 and 3 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.
Vladimir Putin's Morning Market Call (Not Bad!)
Posted to: Micro News
Tuesday, March 04, 2014 9:13 AM

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

In a news conference overnight from his home in Moscow, Russian President Vladimir Putin unintentionally summed up recent movement in US Treasuries by saying recent market turmoil is a tactical, temporary decision by investors.  It would actually be hard to offer a more succinct conclusion on how bond markets treat certain geopolitical events.

When the logical suggestion of such events is in line with something that bond markets might have done anyway, the periodic gluts of movement and volume tend to 'hide behind' newswires relating to said event.  The overnight session was no different where a 1am newswire indicating a pullback of Russian military exercises sent Treasury yields sharply higher.  The Putin news conference a few hours later made for another smaller bout of weakness for bond markets.

The net effect was a 10yr yield walking in the door near 2.65 (currently 2.64%).  That's just over 0.03% higher than yesterday's latest levels.  MBS opened right in line with yesterday's weakest levels connoted by Fannie 4.0s down 7 ticks at 104-27.  They're currently down 5 ticks at 104-29.

There is no significant data on the calendar today, even though the 9:45am ISM New York index sounds like it should be significant.  As such, we'll remain susceptible to Ukraine headlines and compelling moves in other markets.




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 3.94%
  • |
  • 15 Yr FRM 3.12%
  • |
  • Jumbo 30 Year Fixed 3.88%
MBS Prices:
  • 30YR FNMA 4.5 108-12 (0-02)
  • |
  • 30YR FNMA 5.0 110-21 (0-02)
  • |
  • 30YR FNMA 5.5 111-18 (0-01)
Recent Housing Data:
  • Mortgage Apps 5.62%
  • |
  • Refinance Index 10.63%
  • |
  • FHFA Home Price Index 0.67%