Register or Sign in        Email This Page     Link To This Page    
Visit MND at MBA in NYC!
28,899
# of Forum Posts
Micro News Archives
Use the calendar to view Micro News posts from a specific date.
Today  |  Yesterday  |  Random
Bottom Right Default
State Name: Washington
State Name underscore: Washington
State Name dash: Washington
State Name lower underscore: washington
State Name lower dash: washington
State Name lower: washington
State Abbreviation: WA
State Abbreviation Lower: wa
You are viewing Micro News from Friday, Sep 13, 2013 - View all recent Micro News
  • 9/13/13
    MBS are off 4 ticks peak to trough, which is a move...
    MBS Updates are a service provided to MBS Live! subscribers only.
    Learn More | Start a Free Trial | View MBS Prices
    Category: MBS, alert
    Share:   
  • 9/13/13
    Bond Markets on Auto-Pilot Into PM
    After spending the entire week consolidating between highs and lows set on a single day a week ago, MBS and Treasuries are now consolidating between the highs and lows of the first 2 hours of trading today, and continue to hold those into the afternoon.

    This has made for a narrower and narrower range with Fannie 4.0s grinding increasingly against 102-22 and 10yr yields hanging out between 2.9 and 2.89 for the past hour (2.88 before that).

    As noted in the MBS-MID DAY, we may see some move outside the consolidative range as we progress into the afternoon, but it would be inconsequential compared to the first 4 hours of the day, and the entirety of the 4 days before that. ALL of those point to a massive sideways consolidation ahead of next week's FOMC. All you can do at this point in the day is keep an eye out for alerts or rapid price changes, and remember the lenders that are prone to pipeline control reprices if you've had the pleasure of receiving one on a Friday afternoon when MBS are up.
    Category: MBS, UPDATE
    Share:   
  • 9/13/13
    ECON: Consumer Sentiment Much Lower Than Expected
    - Sentiment 76.8 vs 82.0 forecast
    - current conditions 91.8 vs 94.8 forecast
    - expectations 67.2 vs 74.0 forecast
    - Sentiment lowest since April
    - Expectations lowest since January
    - Market Reaction: Treasuries and MBS rallying just barely to best levels of the day.

    Survey director Richard Curtin attributed the decline to "growing concerns that higher interest rates will diminish the pace of economic growth as well as job gains." He added that a "cooling housing market has also affected homeowners' sense of personal financial progress."

    Consumers were also apprehensive about fiscal policy and another potential battle in Washington over raising the government's legal borrowing limit, the survey showed.
    Category: MBS, ECON
    Share:   
  • 9/13/13
    Rates Rallying After Consumer Sentiment
    Headline Sentiment 76.8 vs 82.0 forecast--lowest since April

    Expectations Lowest Since January
    MBS back near highs of the day. More to follow...
    Category: MBS, UPDATE
    Share:   
  • 9/13/13
    Weaker Overnight, Stronger After Data, Hitting Resistance Now
    It's been a surprisingly straightforward overnight and early morning session so far despite the volatility. Little was happening during Asian hours until Japan's Nikkei newspaper published a story quoting inside, unnamed sources, saying that Obama would nominate Summers for Fed chief. This wasn't the garden variety op-ed, but a claim of inside info.

    Stocks sold-off quickly on that news and bond yields rose (as Summers is generally regarded as less QE friendly than Yellen). Both spent the rest of the evening recovering back toward Thursday's latest levels. As domestic traders were sitting down, another newswire came out from Dow Jones saying Obama hasn't decided yet.

    Bond markets rallied back to their best overnight levels on that news, and then rallied some more after a weaker-than-expected Retail Sales number (+.2 vs +.4 forecast). Offsetting the bond bullishness was the face that last month's sales were revised higher by a similar amount today's missed. Essentially, it's just not quite enough "bad news" to clearly suggest the Fed reconsiders whatever tapering timeline they're currently considering.

    As such the rally hit the skids before dipping below 2.88 in 10yr yields and before Fannie 4.0 MBS broke above their highs from yesterday. Both are currently near unchanged levels, but Fannie 4.0s are doing slightly better--3 ticks up currently at 102-18. Consumer Sentiment rounds out the day's data at 9:55am.
    Category: MBS, UPDATE
    Share:   
  • 9/13/13
    ECON: Producer-level Inflation Cooler Than Expected
    - PPI Unchanged vs +0.1 forecast
    - Annual Core PPI +1.1 vs +1.3 forecast
    - Labor Dept says 2/3 of rise = energy costs
    - Market Reaction: More interested in Retail Sales. This report is not hurting the case for bond markets, but probably not helping much.

    The Producer Price Index for finished goods rose 0.3 percent in August, seasonally adjusted, the U.S. Bureau of Labor Statistics reported today. Prices for finished goods were unchanged in July and increased 0.8 percent in June. At the earlier stages of processing, prices received by producers of intermediate goods were unchanged in August, and the crude goods index fell 2.7 percent. On an unadjusted basis, prices for finished goods moved up 1.4 percent for the 12 months ended in August, the smallest advance since a 0.5-percent rise in April 2013.
    Category: MBS, ECON
    Share:   
  • 9/13/13
    ECON: Retail Sales Weakness Offset by Strength in Revision
    - August Sales +0.2 vs +0.4 Forecast
    - July Sales Revised to +0.4 from +0.2 Previously
    - Reaction: Moderately weaker report, somewhat mitigated by the positive revision to last month's report. Given that PPI isn't a major market mover, it's the revisions to Retail Sales here that are likely the main hang up in a more concerted rally. Much like the Jobs report on 9/6, this is weaker, but not "weaker enough" to suggest a change in the taper timeline.

    The U.S. Census Bureau announced today that advance estimates of U.S. retail and food services sales for August, adjusted for seasonal variation and holiday and trading-day differences, but not for price changes, were $426.6 billion, an increase of 0.2 percent (±0.5%)* from the previous month, and 4.7 percent (±0.7%) above August 2012.

    Total sales for the June through August 2013 period were up 5.4 percent (±0.5%) from the same period a year ago. The June to July 2013 percent change was revised from +0.2 percent (±0.5%)* to +0.4 percent (±0.2%).

    Retail trade sales were up 0.2 percent (±0.5%)* from July 2013 and 4.8 percent (±0.7%) above last year. Auto and other motor vehicle dealers were up 12.3 percent (±2.1%) from August 2012 and nonstore retailers were up 10.2 percent (±2.1%) from last year.
    Category: MBS, ECON
    Share:   
 
No Micro News Posts Here.

Options:
 
MBS Micro News updates are a service provided to MBSonMND subscribers only.
Learn More | Start a Free Trial | Open the Dashboard
  • 9/13/13
    MBS are off 4 ticks peak to trough, which is a move...
    MBS Updates are a service provided to MBS Live! subscribers only.
    Learn More | Start a Free Trial | View MBS Prices
    Category: MBS, alert
    Share:   
  • 9/13/13
    After spending the entire week consolidating between highs and lows set on a single day a week ago, MBS and Treasuries are now consolidating between the highs and lows of the first 2 hours of trading today, and continue to hold those into the afternoon.

    This has made for a narrower and narrower range with Fannie 4.0s grinding increasingly against 102-22 and 10yr yields hanging out between 2.9 and 2.89 for the past hour (2.88 before that).

    As noted in the MBS-MID DAY, we may see some move outside the consolidative range as we progress into the afternoon, but it would be inconsequential compared to the first 4 hours of the day, and the entirety of the 4 days before that. ALL of those point to a massive sideways consolidation ahead of next week's FOMC. All you can do at this point in the day is keep an eye out for alerts or rapid price changes, and remember the lenders that are prone to pipeline control reprices if you've had the pleasure of receiving one on a Friday afternoon when MBS are up.
    Category: MBS, UPDATE
    Share:   
  • 9/13/13
    - Sentiment 76.8 vs 82.0 forecast
    - current conditions 91.8 vs 94.8 forecast
    - expectations 67.2 vs 74.0 forecast
    - Sentiment lowest since April
    - Expectations lowest since January
    - Market Reaction: Treasuries and MBS rallying just barely to best levels of the day.

    Survey director Richard Curtin attributed the decline to "growing concerns that higher interest rates will diminish the pace of economic growth as well as job gains." He added that a "cooling housing market has also affected homeowners' sense of personal financial progress."

    Consumers were also apprehensive about fiscal policy and another potential battle in Washington over raising the government's legal borrowing limit, the survey showed.
    Category: MBS, ECON
    Share:   
  • 9/13/13
    Headline Sentiment 76.8 vs 82.0 forecast--lowest since April

    Expectations Lowest Since January
    MBS back near highs of the day. More to follow...
    Category: MBS, UPDATE
    Share:   
  • 9/13/13
    It's been a surprisingly straightforward overnight and early morning session so far despite the volatility. Little was happening during Asian hours until Japan's Nikkei newspaper published a story quoting inside, unnamed sources, saying that Obama would nominate Summers for Fed chief. This wasn't the garden variety op-ed, but a claim of inside info.

    Stocks sold-off quickly on that news and bond yields rose (as Summers is generally regarded as less QE friendly than Yellen). Both spent the rest of the evening recovering back toward Thursday's latest levels. As domestic traders were sitting down, another newswire came out from Dow Jones saying Obama hasn't decided yet.

    Bond markets rallied back to their best overnight levels on that news, and then rallied some more after a weaker-than-expected Retail Sales number (+.2 vs +.4 forecast). Offsetting the bond bullishness was the face that last month's sales were revised higher by a similar amount today's missed. Essentially, it's just not quite enough "bad news" to clearly suggest the Fed reconsiders whatever tapering timeline they're currently considering.

    As such the rally hit the skids before dipping below 2.88 in 10yr yields and before Fannie 4.0 MBS broke above their highs from yesterday. Both are currently near unchanged levels, but Fannie 4.0s are doing slightly better--3 ticks up currently at 102-18. Consumer Sentiment rounds out the day's data at 9:55am.
    Category: MBS, UPDATE
    Share:   
  • 9/13/13
    - PPI Unchanged vs +0.1 forecast
    - Annual Core PPI +1.1 vs +1.3 forecast
    - Labor Dept says 2/3 of rise = energy costs
    - Market Reaction: More interested in Retail Sales. This report is not hurting the case for bond markets, but probably not helping much.

    The Producer Price Index for finished goods rose 0.3 percent in August, seasonally adjusted, the U.S. Bureau of Labor Statistics reported today. Prices for finished goods were unchanged in July and increased 0.8 percent in June. At the earlier stages of processing, prices received by producers of intermediate goods were unchanged in August, and the crude goods index fell 2.7 percent. On an unadjusted basis, prices for finished goods moved up 1.4 percent for the 12 months ended in August, the smallest advance since a 0.5-percent rise in April 2013.
    Category: MBS, ECON
    Share:   
  • 9/13/13
    - August Sales +0.2 vs +0.4 Forecast
    - July Sales Revised to +0.4 from +0.2 Previously
    - Reaction: Moderately weaker report, somewhat mitigated by the positive revision to last month's report. Given that PPI isn't a major market mover, it's the revisions to Retail Sales here that are likely the main hang up in a more concerted rally. Much like the Jobs report on 9/6, this is weaker, but not "weaker enough" to suggest a change in the taper timeline.

    The U.S. Census Bureau announced today that advance estimates of U.S. retail and food services sales for August, adjusted for seasonal variation and holiday and trading-day differences, but not for price changes, were $426.6 billion, an increase of 0.2 percent (±0.5%)* from the previous month, and 4.7 percent (±0.7%) above August 2012.

    Total sales for the June through August 2013 period were up 5.4 percent (±0.5%) from the same period a year ago. The June to July 2013 percent change was revised from +0.2 percent (±0.5%)* to +0.4 percent (±0.2%).

    Retail trade sales were up 0.2 percent (±0.5%)* from July 2013 and 4.8 percent (±0.7%) above last year. Auto and other motor vehicle dealers were up 12.3 percent (±2.1%) from August 2012 and nonstore retailers were up 10.2 percent (±2.1%) from last year.
    Category: MBS, ECON
    Share:   
  • 9/13/13
    ECON: Consumer Sentiment Much Lower Than Expected
    - Sentiment 76.8 vs 82.0 forecast
    - current conditions 91.8 vs 94.8 forecast
    - expectations 67.2 vs 74.0 forecast
    - Sentiment lowest since April
    - Expectations lowest since January
    - Market Reaction: Treasuries and MBS rallying just barely to best levels of the day.

    Survey director Richard Curtin attributed the decline to "growing concerns that higher interest rates will diminish the pace of economic growth as well as job gains." He added that a "cooling housing market has also affected homeowners' sense of personal financial progress."

    Consumers were also apprehensive about fiscal policy and another potential battle in Washington over raising the government's legal borrowing limit, the survey showed.
    Category: MBS, ECON
    Share:   
  • 9/13/13
    ECON: Producer-level Inflation Cooler Than Expected
    - PPI Unchanged vs +0.1 forecast
    - Annual Core PPI +1.1 vs +1.3 forecast
    - Labor Dept says 2/3 of rise = energy costs
    - Market Reaction: More interested in Retail Sales. This report is not hurting the case for bond markets, but probably not helping much.

    The Producer Price Index for finished goods rose 0.3 percent in August, seasonally adjusted, the U.S. Bureau of Labor Statistics reported today. Prices for finished goods were unchanged in July and increased 0.8 percent in June. At the earlier stages of processing, prices received by producers of intermediate goods were unchanged in August, and the crude goods index fell 2.7 percent. On an unadjusted basis, prices for finished goods moved up 1.4 percent for the 12 months ended in August, the smallest advance since a 0.5-percent rise in April 2013.
    Category: MBS, ECON
    Share:   
  • 9/13/13
    ECON: Retail Sales Weakness Offset by Strength in Revision
    - August Sales +0.2 vs +0.4 Forecast
    - July Sales Revised to +0.4 from +0.2 Previously
    - Reaction: Moderately weaker report, somewhat mitigated by the positive revision to last month's report. Given that PPI isn't a major market mover, it's the revisions to Retail Sales here that are likely the main hang up in a more concerted rally. Much like the Jobs report on 9/6, this is weaker, but not "weaker enough" to suggest a change in the taper timeline.

    The U.S. Census Bureau announced today that advance estimates of U.S. retail and food services sales for August, adjusted for seasonal variation and holiday and trading-day differences, but not for price changes, were $426.6 billion, an increase of 0.2 percent (±0.5%)* from the previous month, and 4.7 percent (±0.7%) above August 2012.

    Total sales for the June through August 2013 period were up 5.4 percent (±0.5%) from the same period a year ago. The June to July 2013 percent change was revised from +0.2 percent (±0.5%)* to +0.4 percent (±0.2%).

    Retail trade sales were up 0.2 percent (±0.5%)* from July 2013 and 4.8 percent (±0.7%) above last year. Auto and other motor vehicle dealers were up 12.3 percent (±2.1%) from August 2012 and nonstore retailers were up 10.2 percent (±2.1%) from last year.
    Category: MBS, ECON
    Share:   
 
No Micro News Posts Here.

Options:
 
 
No Micro News Posts Here.

Options:
 
Did you know?
You can see a list of all comments on MND by clicking the 'Read the Latest Comments' option under the 'Community' menu.
 

More From MND

Mortgage Rates:
  • 30 Yr FRM 4.43%
  • |
  • 15 Yr FRM 3.49%
  • |
  • Jumbo 30 Year Fixed 4.21%
MBS Prices:
  • 30YR FNMA 4.5 106-30 (0-06)
  • |
  • 30YR FNMA 5.0 109-07 (0-04)
  • |
  • 30YR FNMA 5.5 110-13 (0-02)
Recent Housing Data:
  • Mortgage Apps -3.31%
  • |
  • Refinance Index -3.75%
  • |
  • FHFA Home Price Index 0.67%