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You are viewing Micro News from Monday, Dec 23, 2013 - View all recent Micro News
  • 12/23/13
    This is more of a heads-up than a traditional reprice...
    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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  • 12/23/13
    ECON: Consumer Sentiment Slightly Weaker Than Expected

    - Sentiment 82.5 vs 83.0 forecast
    - Current Conditions 98.6 vs 98.1 forecast
    - Market Reaction: none

    Consumer sentiment rose to its strongest in five months in December as Americans' outlook on the economy and job prospects improved, a survey released on Monday showed.

    The final reading on the Thomson Reuters/University of Michigan's overall index of consumer sentiment jumped to 82.5 for December, up from the 75.1 posted in November but unchanged from the preliminary reading released earlier this month.

    This was the highest reading for the index since July, though it was slightly under expectations for a reading of 83.

    "Most of the gain was due to more favorable buying plans due to renewed discounting as well as more favorable short-term prospects for the economy," survey director Richard Curtin wrote in a statement.

    -Reuters

    Category: MBS, UPDATE
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  • 12/23/13
    Bond Markets Slightly Weaker Amid Quiet Conditions
    As is typical for the holiday-shortened week, trading activity is subdued and thankfully, so is volatility. Treasuries settled into a range overnight with yields just above Friday's latest levels. 10's hovered around 2.90 until moving to 2.92 just after 8am.

    Fannie 4.0s opened 7 ticks lower at 103-03, but both MBS and Treasuries improved after the 8:30am economic data (though not necessarily because of it). 10's returned to their overnight range, currently up 2bps on the day at 0.0184 and Fannie 4.0s are down 1 tick at 103-09.

    The only other scheduled data this morning is Consumer Sentiment at 9:55am. It's not likely to cause significant market movement, but it can cause some if it's far enough away from the 83.0 forecast.
    Category: MBS, UPDATE
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  • 12/23/13
    ECON: Spending Hits Expectations While Incomes Decelerate
    - Consumer Spending +0.5 vs +0.5 forecast
    - Income +0.2 vs +0.5 forecast
    - Annual Core PCE Prices +1.1 vs +1.1 previously
    - Market Reacion: MBS and Treasuries improved almost imperceptibly, but it wasn't clearly a result of the data.

    Personal outlays -- PCE, personal interest payments, and personal current transfer payments -- increased $62.6 billion in November, compared with an increase of $43.9 billion in October. PCE increased $63.0 billion, compared with an increase of $44.2 billion.

    Personal income increased $30.1 billion, or 0.2 percent, and disposable personal income (DPI) increased $16.2 billion, or 0.1 percent in November according to the Bureau of Economic Analysis. Personal consumption expenditures (PCE) increased $63.0 billion, or 0.5 percent. In October, personal income decreased $11.7 billion, or 0.1 percent, DPI decreased $25.6 billion, or 0.2 percent, and PCE increased $44.2 billion, or 0.4 percent, based on revised estimates.
    Category: MBS, ECON
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  • 12/23/13
    This is more of a heads-up than a traditional reprice...
    MBS Updates are a service provided to MBS Live! subscribers only.
    Learn More | Start a Free Trial | View MBS Prices
    Category: MBS, alert
    Share:   
  • 12/23/13

    - Sentiment 82.5 vs 83.0 forecast
    - Current Conditions 98.6 vs 98.1 forecast
    - Market Reaction: none

    Consumer sentiment rose to its strongest in five months in December as Americans' outlook on the economy and job prospects improved, a survey released on Monday showed.

    The final reading on the Thomson Reuters/University of Michigan's overall index of consumer sentiment jumped to 82.5 for December, up from the 75.1 posted in November but unchanged from the preliminary reading released earlier this month.

    This was the highest reading for the index since July, though it was slightly under expectations for a reading of 83.

    "Most of the gain was due to more favorable buying plans due to renewed discounting as well as more favorable short-term prospects for the economy," survey director Richard Curtin wrote in a statement.

    -Reuters

    Category: MBS, UPDATE
    Share:   
  • 12/23/13
    As is typical for the holiday-shortened week, trading activity is subdued and thankfully, so is volatility. Treasuries settled into a range overnight with yields just above Friday's latest levels. 10's hovered around 2.90 until moving to 2.92 just after 8am.

    Fannie 4.0s opened 7 ticks lower at 103-03, but both MBS and Treasuries improved after the 8:30am economic data (though not necessarily because of it). 10's returned to their overnight range, currently up 2bps on the day at 0.0184 and Fannie 4.0s are down 1 tick at 103-09.

    The only other scheduled data this morning is Consumer Sentiment at 9:55am. It's not likely to cause significant market movement, but it can cause some if it's far enough away from the 83.0 forecast.
    Category: MBS, UPDATE
    Share:   
  • 12/23/13
    - Consumer Spending +0.5 vs +0.5 forecast
    - Income +0.2 vs +0.5 forecast
    - Annual Core PCE Prices +1.1 vs +1.1 previously
    - Market Reacion: MBS and Treasuries improved almost imperceptibly, but it wasn't clearly a result of the data.

    Personal outlays -- PCE, personal interest payments, and personal current transfer payments -- increased $62.6 billion in November, compared with an increase of $43.9 billion in October. PCE increased $63.0 billion, compared with an increase of $44.2 billion.

    Personal income increased $30.1 billion, or 0.2 percent, and disposable personal income (DPI) increased $16.2 billion, or 0.1 percent in November according to the Bureau of Economic Analysis. Personal consumption expenditures (PCE) increased $63.0 billion, or 0.5 percent. In October, personal income decreased $11.7 billion, or 0.1 percent, DPI decreased $25.6 billion, or 0.2 percent, and PCE increased $44.2 billion, or 0.4 percent, based on revised estimates.
    Category: MBS, ECON
    Share:   
  • 12/23/13
    ECON: Spending Hits Expectations While Incomes Decelerate
    - Consumer Spending +0.5 vs +0.5 forecast
    - Income +0.2 vs +0.5 forecast
    - Annual Core PCE Prices +1.1 vs +1.1 previously
    - Market Reacion: MBS and Treasuries improved almost imperceptibly, but it wasn't clearly a result of the data.

    Personal outlays -- PCE, personal interest payments, and personal current transfer payments -- increased $62.6 billion in November, compared with an increase of $43.9 billion in October. PCE increased $63.0 billion, compared with an increase of $44.2 billion.

    Personal income increased $30.1 billion, or 0.2 percent, and disposable personal income (DPI) increased $16.2 billion, or 0.1 percent in November according to the Bureau of Economic Analysis. Personal consumption expenditures (PCE) increased $63.0 billion, or 0.5 percent. In October, personal income decreased $11.7 billion, or 0.1 percent, DPI decreased $25.6 billion, or 0.2 percent, and PCE increased $44.2 billion, or 0.4 percent, based on revised estimates.
    Category: MBS, ECON
    Share:   
 
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