Register or Sign in        Email This Page     Link To This Page    
Visit MND at MBA in NYC!
1,829
# of Questions Answered
 

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 1 and 8 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.
Strong Philly Fed Data Reinforces Bounce Toward Weaker Levels
Posted to: Micro News
Thursday, July 17, 2014 10:08 AM

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

Bond markets were already in the process of pulling back from their best levels of the day with consecutive bounces at 8:50 and 9:27am in Treasuries (around 2.495%).  MBS prices were also making the same turn toward weaker levels.

The just-released Philly Fed Index offered further support for the bounce, though it hasn't made for a runaway sell-off just yet.  10yr yields are up to 2.51 (still 3bps lower on the day), and Fannie 3.5s are down to 102-07, still 4 ticks higher on the day. 

Here's a run-down of the data:

  • Philly Fed business conditions 23.9 vs 16.0 forecast
  • New Orders 34.2 vs 16.8 previously
  • Employment Index 12.2 vs 11.9
  • Business Conditions highest since March 2011

The bond market response may well pick up steam in the coming moments, but for now, there's no reprice risk implication.




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 4.11%
  • |
  • 15 Yr FRM 3.26%
  • |
  • Jumbo 30 Year Fixed 3.98%
MBS Prices:
  • 30YR FNMA 4.5 107-29 (-0-00)
  • |
  • 30YR FNMA 5.0 110-06 (0-00)
  • |
  • 30YR FNMA 5.5 111-04 (0-00)
Recent Housing Data:
  • Mortgage Apps -2.68%
  • |
  • Refinance Index -3.98%
  • |
  • FHFA Home Price Index 0.67%