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You are viewing Micro News from Monday, Dec 2, 2013 - View all recent Micro News
  • 12/2/13
    Fannie 3.5s are now about half a point lower on the...
    MBS Updates are a service provided to MBS Live! subscribers only.
    Learn More | Start a Free Trial | View MBS Prices
    Category: MBS, alert
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  • 12/2/13
    ECON: ISM Manufacturing Comes in Stronger, MBS Sell Off
    - PMI 57.3 vs 55.0 forecast, 56.4 previously
    - Employment Index 56.5 vs 53.2 previously
    - PMI highest since April 2011
    - Makret Reaction: MBS and Treasuries both move to weakest levels of the session, but haven't extended much beyond the previous boundaries yet.

    Manufacturing expanded in October as the PMI™ registered 56.4 percent, an increase of 0.2 percentage point when compared to September's reading of 56.2 percent. A reading above 50 percent indicates that the manufacturing economy is generally expanding; below 50 percent indicates that it is generally contracting.

    A PMI™ in excess of 42.2 percent, over a period of time, generally indicates an expansion of the overall economy. Therefore, the October PMI™ indicates growth for the 53rd consecutive month in the overall economy, and indicates expansion in the manufacturing sector for the fifth consecutive month. Holcomb stated, "The past relationship between the PMI™ and the overall economy indicates that the average PMI™ for January through October (53.3 percent) corresponds to a 3.5 percent increase in real gross domestic product (GDP) on an annualized basis. In addition, if the PMI™ for October (56.4 percent) is annualized, it corresponds to a 4.4 percent increase in real GDP annually."
    Category: MBS, ECON
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  • 12/2/13
    ISM 57.3 vs 55.0 forecast and 56.4 previously. MBS...
    MBS Updates are a service provided to MBS Live! subscribers only.
    Learn More | Start a Free Trial | View MBS Prices
    Category: MBS, alert
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  • 12/2/13
    Bond Markets Weaker Overnight; Waiting on ISM Data
    The overnight session began with moderate selling in Asia, but Treasury losses were relatively contained until European hours. Stronger-than-expected data in Europe as well as technical selling in German Bunds pushed US Treasury yields higher from 3:30am to 6am. 10yrs crested 2.80 but have eased somewhat into domestic hours--now down to 2.781.

    MBS opened almost 3/8ths of a point weaker and Fannie 3.5s are currently down 9 ticks at 100-18 and 4.0s are down 6 ticks at 104-05. At these levels, Fannie 4.0s get a majority of new origination, but 3.5s remain relevant because virtually every rate sheet will have available rates destined for 3.5 coupons.

    Today's one and only significant piece of domestic economic data arrives at 10am with the ISM Manufacturing Index--seen coming in at 55.0 vs 56.4 last time.
    Category: MBS, UPDATE
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  • 12/2/13
    Fannie 3.5s are now about half a point lower on the...
    MBS Updates are a service provided to MBS Live! subscribers only.
    Learn More | Start a Free Trial | View MBS Prices
    Category: MBS, alert
    Share:   
  • 12/2/13
    - PMI 57.3 vs 55.0 forecast, 56.4 previously
    - Employment Index 56.5 vs 53.2 previously
    - PMI highest since April 2011
    - Makret Reaction: MBS and Treasuries both move to weakest levels of the session, but haven't extended much beyond the previous boundaries yet.

    Manufacturing expanded in October as the PMI™ registered 56.4 percent, an increase of 0.2 percentage point when compared to September's reading of 56.2 percent. A reading above 50 percent indicates that the manufacturing economy is generally expanding; below 50 percent indicates that it is generally contracting.

    A PMI™ in excess of 42.2 percent, over a period of time, generally indicates an expansion of the overall economy. Therefore, the October PMI™ indicates growth for the 53rd consecutive month in the overall economy, and indicates expansion in the manufacturing sector for the fifth consecutive month. Holcomb stated, "The past relationship between the PMI™ and the overall economy indicates that the average PMI™ for January through October (53.3 percent) corresponds to a 3.5 percent increase in real gross domestic product (GDP) on an annualized basis. In addition, if the PMI™ for October (56.4 percent) is annualized, it corresponds to a 4.4 percent increase in real GDP annually."
    Category: MBS, ECON
    Share:   
  • 12/2/13
    ISM 57.3 vs 55.0 forecast and 56.4 previously. MBS...
    MBS Updates are a service provided to MBS Live! subscribers only.
    Learn More | Start a Free Trial | View MBS Prices
    Category: MBS, alert
    Share:   
  • 12/2/13
    The overnight session began with moderate selling in Asia, but Treasury losses were relatively contained until European hours. Stronger-than-expected data in Europe as well as technical selling in German Bunds pushed US Treasury yields higher from 3:30am to 6am. 10yrs crested 2.80 but have eased somewhat into domestic hours--now down to 2.781.

    MBS opened almost 3/8ths of a point weaker and Fannie 3.5s are currently down 9 ticks at 100-18 and 4.0s are down 6 ticks at 104-05. At these levels, Fannie 4.0s get a majority of new origination, but 3.5s remain relevant because virtually every rate sheet will have available rates destined for 3.5 coupons.

    Today's one and only significant piece of domestic economic data arrives at 10am with the ISM Manufacturing Index--seen coming in at 55.0 vs 56.4 last time.
    Category: MBS, UPDATE
    Share:   
  • 12/2/13
    ECON: ISM Manufacturing Comes in Stronger, MBS Sell Off
    - PMI 57.3 vs 55.0 forecast, 56.4 previously
    - Employment Index 56.5 vs 53.2 previously
    - PMI highest since April 2011
    - Makret Reaction: MBS and Treasuries both move to weakest levels of the session, but haven't extended much beyond the previous boundaries yet.

    Manufacturing expanded in October as the PMI™ registered 56.4 percent, an increase of 0.2 percentage point when compared to September's reading of 56.2 percent. A reading above 50 percent indicates that the manufacturing economy is generally expanding; below 50 percent indicates that it is generally contracting.

    A PMI™ in excess of 42.2 percent, over a period of time, generally indicates an expansion of the overall economy. Therefore, the October PMI™ indicates growth for the 53rd consecutive month in the overall economy, and indicates expansion in the manufacturing sector for the fifth consecutive month. Holcomb stated, "The past relationship between the PMI™ and the overall economy indicates that the average PMI™ for January through October (53.3 percent) corresponds to a 3.5 percent increase in real gross domestic product (GDP) on an annualized basis. In addition, if the PMI™ for October (56.4 percent) is annualized, it corresponds to a 4.4 percent increase in real GDP annually."
    Category: MBS, ECON
    Share:   
 
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