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You are viewing Micro News from Thursday, Jan 2, 2014 - View all recent Micro News
  • 1/2/14
    In most cases, current losses in MBS are NOT sufficient...
    MBS Updates are a service provided to MBS Live! subscribers only.
    Learn More | Start a Free Trial | View MBS Prices
    Category: MBS, alert
    Share:   
  • 1/2/14
    Bond Markets Improve Despite Generally Stronger Data; Some Resistance Now

    Quick roundup of the morning's economic data:

    Jobless Claims

    • 339k vs 341k previously
    • Continued Claims 2.833 mln vs 2.931 previously

    Markit Manufacturing PMI

    • PMI 55.0 vs 54.4 previously

    Construction Spending

    • +1.0 vs +0.6 forecast
    • Private Spending +2.2, Public -1.8

    ISM Manufacturing PMI

    • PMI 57.0 vs 57.0 forecast, 57.3 previously
    • Internal components were broadly stronger
    • New Orders 64.2 vs 63.6, highest since 4/2010
    • Employment 56.9 vs 56.5, highest since 6/2011

    Throughout the morning of economic data, MBS and Treasuries have improved fairly steadily.  Fannie 4.0s hit 103-07 at their best levels and are currently back down to 103-04, still 6/32nds up on the day. 

    10yr yields are in positive territory at 2.997 but just bounced multiple times at 2.987.  This could prove to be technical resistance that serves to dissuade further progress this morning, but the move back in the other direction has been anything but swift just yet.

    Category: MBS, UPDATE
    Share:   
  • 1/2/14
    Holding Modest Gains After First Round of Data

    With a scheduled market closure in Japan and Treasury futures closed until 6am, the overnight session was understandably very light.  Cash Treasuries traded for four illiquid hours ahead of the 6am futures open. 

    10yr yields began over 3.05% in the wee hours, but are now back below Tuesday's latest levels, currently 3.0114.  Most of that improvement was  in place before 8am, but yields rose just a bit heading into 830am Jobless Claims and improved afterward. 

    Fannie 4.0s are currently up 3 ticks at 103-01, but the lack of liquidity cannot be emphasized enough.  We can count the number of quote updates on fingers and toes this morning.

    Speaking of updates, the live stream is back online.  If you haven't already, refresh the dashboard to update charts.

    Category: MBS, UPDATE
    Share:   
  • 1/2/14
    SERVICE ALERT: Live Stream is Temporarily Unavailable

    The dashboard and mobile apps are currently not receiving live pricing data due to a technical issue involving the New Year.  Thus, the charts and price tables are not updating.

    We've isolated the specific issue and are working on a fix that should have us back on line shortly. 

    In the meantime, price updates will be more frequent.  We will send an update or an alert with any downward movement of more than 2/32nds in Fannie 4.0s (currently up 4/32nds on the day at 103-02).

    Category: MBS, UPDATE
    Share:   
 
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MBS Micro News updates are a service provided to MBSonMND subscribers only.
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  • 1/2/14
    In most cases, current losses in MBS are NOT sufficient...
    MBS Updates are a service provided to MBS Live! subscribers only.
    Learn More | Start a Free Trial | View MBS Prices
    Category: MBS, alert
    Share:   
  • 1/2/14

    Quick roundup of the morning's economic data:

    Jobless Claims

    • 339k vs 341k previously
    • Continued Claims 2.833 mln vs 2.931 previously

    Markit Manufacturing PMI

    • PMI 55.0 vs 54.4 previously

    Construction Spending

    • +1.0 vs +0.6 forecast
    • Private Spending +2.2, Public -1.8

    ISM Manufacturing PMI

    • PMI 57.0 vs 57.0 forecast, 57.3 previously
    • Internal components were broadly stronger
    • New Orders 64.2 vs 63.6, highest since 4/2010
    • Employment 56.9 vs 56.5, highest since 6/2011

    Throughout the morning of economic data, MBS and Treasuries have improved fairly steadily.  Fannie 4.0s hit 103-07 at their best levels and are currently back down to 103-04, still 6/32nds up on the day. 

    10yr yields are in positive territory at 2.997 but just bounced multiple times at 2.987.  This could prove to be technical resistance that serves to dissuade further progress this morning, but the move back in the other direction has been anything but swift just yet.

    Category: MBS, UPDATE
    Share:   
  • 1/2/14

    With a scheduled market closure in Japan and Treasury futures closed until 6am, the overnight session was understandably very light.  Cash Treasuries traded for four illiquid hours ahead of the 6am futures open. 

    10yr yields began over 3.05% in the wee hours, but are now back below Tuesday's latest levels, currently 3.0114.  Most of that improvement was  in place before 8am, but yields rose just a bit heading into 830am Jobless Claims and improved afterward. 

    Fannie 4.0s are currently up 3 ticks at 103-01, but the lack of liquidity cannot be emphasized enough.  We can count the number of quote updates on fingers and toes this morning.

    Speaking of updates, the live stream is back online.  If you haven't already, refresh the dashboard to update charts.

    Category: MBS, UPDATE
    Share:   
  • 1/2/14

    The dashboard and mobile apps are currently not receiving live pricing data due to a technical issue involving the New Year.  Thus, the charts and price tables are not updating.

    We've isolated the specific issue and are working on a fix that should have us back on line shortly. 

    In the meantime, price updates will be more frequent.  We will send an update or an alert with any downward movement of more than 2/32nds in Fannie 4.0s (currently up 4/32nds on the day at 103-02).

    Category: MBS, UPDATE
    Share:   
 
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