Register or Sign in        Email This Page     Link To This Page    
Visit MND at MBA in NYC!
28,899
# of Forum Posts
 

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 3 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.
Bond Markets Steady to Slightly Weaker Following FOMC Minutes
Posted to: Micro News
Wednesday, May 21, 2014 2:07 PM

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

There were no glaring surprises in the FOMC Minutes (which provide a more detailed account of the meeting that took place over 3 weeks ago), though there was mention of a discussion regarding how the Fed should reinvest its asset holdings.

With that in mind, it's important to note that markets were very interested in Dudley's comments yesterday regarding a change-up in the reinvestment game-plan (i.e. the Fed should not stop reinvesting before they raise rates).  That's an MBS-positive factor that is missing from the Minutes.  In other words, markets "bought the rumor" to some extent yesterday and are "selling the news" a bit now.

Fannie 3.5s have fallen in line with the lows of the morning, down 5 ticks at 102-12 and Treasuries are pushing into new highs.  10yr yields are up to 2.555.  We're not far enough away from rate sheet print times to justify negative reprice risk, and there's a chance we bounce here, but there is a small amount of reprice risk any time we're in the midst of a post-Fed knee-jerk.  Overall, this one is fairly mild so far.




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 4.18%
  • |
  • 15 Yr FRM 3.33%
  • |
  • Jumbo 30 Year Fixed 4.04%
MBS Prices:
  • 30YR FNMA 4.5 107-30 (0-00)
  • |
  • 30YR FNMA 5.0 110-11 (0-01)
  • |
  • 30YR FNMA 5.5 111-12 (0-00)
Recent Housing Data:
  • Mortgage Apps -7.23%
  • |
  • Refinance Index -10.65%
  • |
  • FHFA Home Price Index 0.67%