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 5 and 5 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.
Mostly Holding Ground After Extending Overnight Weakness
Posted to: Micro News
Monday, May 12, 2014 9:12 AM

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

Treasuries were slightly weaker at the start of the overnight session, partly reflecting a continuation of the negative technical shift (i.e. chart patterns starting to suggest a pull back to higher rates) that began last week as well as a generally better risk tolerance. 

European bond markets benefited from increasing expectations about some sort of easing (rate cut or QE or both) all but promised by Draghi on Thursday.  While any easing wouldn't be announced until June's policy meeting, the expectations are boosting core European bond markets.  That sort of rally doesn't translate as readily to US Treasuries, as was the case last night.

10yr yields crossed the 8am mark just over Friday's highest levels and continued to lose ground before bouncing at 2.647.  MBS began the day close to Friday's latest levels but followed Treasuries' early move into weaker territory.

Fannie 3.5s are down 5/32nds at 101-22 and Fannie 4.0s are down 3 ticks to 104-26.  There is no significant economic data on the schedule today, and the next market moving inspiration is anyone's guess.  Treasuries and MBS are currently trying to bounce back from this morning's weakest levels, and have been holding their ground since roughly 8:40am (MBS, arguably since 8:20am), though not making much progress in the other direction.

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 3.68%
  • |
  • 15 Yr FRM 2.96%
  • |
  • Jumbo 30 Year Fixed 3.62%
MBS Prices:
  • 30YR FNMA 4.5 108-26 (-0-02)
  • |
  • 30YR FNMA 5.0 110-22 (0-01)
  • |
  • 30YR FNMA 5.5 111-30 (0-02)
Recent Housing Data:
  • Mortgage Apps 10.03%
  • |
  • Refinance Index 11.33%
  • |
  • Purchase Index 8.43%