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You are viewing Micro News from Thursday, Dec 26, 2013 - View all recent Micro News
  • 12/26/13
    Drifting Out at Best Levels; Nothing to Report

    It's been a completely uneventful session all day long.  That doesn't show signs of stopping as we head into the final hour.  If anything, MBS have been leaning more toward gains as the day has progressed, but we're talking about the differences of only a few ticks between highs and lows.

    Volume has been so low that we can't draw any conclusions about trends beyond today.  This is also likely to be the case tomorrow and possibly even through next week as NFP doesn't hit until January 10th.  That week, and especially the week that follows, will be when more normal conditions return.

    Fannie 4.0s are currently up 3 ticks (3/32nds) on the day at 102-28.  10yr yields are up 1bps at 2.9924 and did hit 3.011% briefly earlier today.

    Category: MBS, UPDATE
    Share:   
  • 12/26/13
    Drifting Out at Best Levels

    It's been a completely uneventful session all day long.  That doesn't show signs of stopping as we head into the final hour.  If anything, MBS have been leaning more toward gains as the day has progressed, but we're talking about the differences of only a few ticks between highs and lows.

    Volume has been so low that we can't draw any conclusions about trends beyond today.  This is also likely to be the case tomorrow and possibly even through next week as NFP doesn't hit until January 10th.  That week, and especially the week that follows, will be when more normal conditions return.

    Fannie 4.0s are currently up 3 ticks (3/32nds) on the day at 102-28.  10yr yields are up 1bps at 2.9924 and did hit 3.011% briefly earlier today.

    Category: MBS, UPDATE
    Share:   
  • 12/26/13
    MBS Hover Near Unchanged Levels; Light Activity is an Understatement

    Volume and volatility are every bit as light as normal for the day after Christmas.  Overnight trading was especially hampered by an additional holiday closure (Boxing Day) for the UK/European markets.

    Treasuries made it to the domestic session around a bp (.01%) higher in yield and haven't weakened any further.  Fannie 4.0 MBS started out a tick (1/32nd) higher in price at 102-25 and have held an exceptionally narrow 2/32nds trading range since then.

    Jobless Claims were fairly close to consensus (338k vs 345k forecast) but had no impact on trading.  To be clear, that's not the kind of "no impact" where you  might be able to find some if you look closely enough and jump far enough to conclusions.  It's really completely absent.

    From an MBS standpoint, these post-Christmas trading sessions call for limited strategy.  Any movement later in the day is serendipitous.  While it CAN happen on such days, it's certainly not right now.

    Category: MBS, UPDATE
    Share:   
  • 12/26/13
    MBS Hover Near Unchanged Levels; Light Activity is an Understatement

    Volume and volatility are every bit as light as normal for the day after Christmas.  Overnight trading was especially hampered by an additional holiday closure (Boxing Day) for the UK/European markets.

    Treasuries made it to the domestic session around a bp (.01%) higher in yield and haven't weakened any further.  Fannie 4.0 MBS started out a tick (1/32nd) higher in price at 102-25 and have held an exceptionally narrow 2/32nds trading range since then.

    Jobless Claims were fairly close to consensus (338k vs 345k forecast) but had no impact on trading.  To be clear, that's not the kind of "no impact" where you  might be able to find some if you look closely enough and jump far enough to conclusions.  It's really completely absent.

    From an MBS standpoint, these post-Christmas trading sessions call for limited strategy.  Any movement later in the day is serendipitous.  While it CAN happen on such days, it's certainly not right now.

    Category: MBS, UPDATE
    Share:   
 
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  • 12/26/13

    It's been a completely uneventful session all day long.  That doesn't show signs of stopping as we head into the final hour.  If anything, MBS have been leaning more toward gains as the day has progressed, but we're talking about the differences of only a few ticks between highs and lows.

    Volume has been so low that we can't draw any conclusions about trends beyond today.  This is also likely to be the case tomorrow and possibly even through next week as NFP doesn't hit until January 10th.  That week, and especially the week that follows, will be when more normal conditions return.

    Fannie 4.0s are currently up 3 ticks (3/32nds) on the day at 102-28.  10yr yields are up 1bps at 2.9924 and did hit 3.011% briefly earlier today.

    Category: MBS, UPDATE
    Share:   
  • 12/26/13

    It's been a completely uneventful session all day long.  That doesn't show signs of stopping as we head into the final hour.  If anything, MBS have been leaning more toward gains as the day has progressed, but we're talking about the differences of only a few ticks between highs and lows.

    Volume has been so low that we can't draw any conclusions about trends beyond today.  This is also likely to be the case tomorrow and possibly even through next week as NFP doesn't hit until January 10th.  That week, and especially the week that follows, will be when more normal conditions return.

    Fannie 4.0s are currently up 3 ticks (3/32nds) on the day at 102-28.  10yr yields are up 1bps at 2.9924 and did hit 3.011% briefly earlier today.

    Category: MBS, UPDATE
    Share:   
  • 12/26/13

    Volume and volatility are every bit as light as normal for the day after Christmas.  Overnight trading was especially hampered by an additional holiday closure (Boxing Day) for the UK/European markets.

    Treasuries made it to the domestic session around a bp (.01%) higher in yield and haven't weakened any further.  Fannie 4.0 MBS started out a tick (1/32nd) higher in price at 102-25 and have held an exceptionally narrow 2/32nds trading range since then.

    Jobless Claims were fairly close to consensus (338k vs 345k forecast) but had no impact on trading.  To be clear, that's not the kind of "no impact" where you  might be able to find some if you look closely enough and jump far enough to conclusions.  It's really completely absent.

    From an MBS standpoint, these post-Christmas trading sessions call for limited strategy.  Any movement later in the day is serendipitous.  While it CAN happen on such days, it's certainly not right now.

    Category: MBS, UPDATE
    Share:   
  • 12/26/13

    Volume and volatility are every bit as light as normal for the day after Christmas.  Overnight trading was especially hampered by an additional holiday closure (Boxing Day) for the UK/European markets.

    Treasuries made it to the domestic session around a bp (.01%) higher in yield and haven't weakened any further.  Fannie 4.0 MBS started out a tick (1/32nd) higher in price at 102-25 and have held an exceptionally narrow 2/32nds trading range since then.

    Jobless Claims were fairly close to consensus (338k vs 345k forecast) but had no impact on trading.  To be clear, that's not the kind of "no impact" where you  might be able to find some if you look closely enough and jump far enough to conclusions.  It's really completely absent.

    From an MBS standpoint, these post-Christmas trading sessions call for limited strategy.  Any movement later in the day is serendipitous.  While it CAN happen on such days, it's certainly not right now.

    Category: MBS, UPDATE
    Share:   
 
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