Register or Sign in        Email This Page     Link To This Page    
Visit MND at MBA in NYC!
118,659
# of Subscribers
 

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 2 and 1 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.
Empire Strikes Back! (Except Empire = Bond Markets)
Posted to: Micro News
Friday, June 13, 2014 10:53 AM

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

After losing ground in quasi-inexplicable fashion this morning, bond markets are bouncing back in even more inexplicable fashion!  Whereas we could lean on the stock lever this morning, the most recent move has seen stocks and bonds improve together!  (The stock lever principle usually sees them move in opposite directions in terms of PRICE). 

Even many wall street analysts heading into 10am stipulated further stock selling would be required for continued bond market strength.  Boy were they wrong!  So I will avoid venturing a guess as to the current state of trading except to say that 10's are bouncing near yesterday's most frequently recurring highs, and they're NOT running quickly past yesterday's lows, or even today's overnight lows. 

That has all the trappings of a boring, technical, range-bound circling of the wagons heading into the weekend--a move that is certainly in bond market's play-book.  This time it's working in our favor, at least inasmuch as reversing most of the earlier weakness.

Fannie 3.5s are now down only 3 ticks at 101-30 and 10s are only up 2 bps at 2.606.  They'd been as high as 2.644 this morning.




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 4.24%
  • |
  • 15 Yr FRM 3.39%
  • |
  • Jumbo 30 Year Fixed 4.09%
MBS Prices:
  • 30YR FNMA 4.5 107-16 (0-03)
  • |
  • 30YR FNMA 5.0 109-32 (0-02)
  • |
  • 30YR FNMA 5.5 111-06 (0-00)
Recent Housing Data:
  • Mortgage Apps -7.23%
  • |
  • Refinance Index -10.65%
  • |
  • FHFA Home Price Index 0.67%