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You are viewing Micro News from Tuesday, Jan 7, 2014 - View all recent Micro News
  • 1/7/14
    Positive Reprice Potential as MBS Hit Higher Highs

    Fannie 4.0s just crossed above the 1/8th of a point mark in terms of improvement from this morning's early rate sheet print times.  In other words, while prices are up 7 ticks in total on the day, 5 of those have come since 9:30am.  This introduces positive reprice potential for a few lenders.  Fannie 4.0s are currently at 103-15.

    10yr yields are now down 2bps to 2.943, their lowest levels of the day/week/month. 

    Category: MBS, UPDATE
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  • 1/7/14
    Trade Gap a Non-Event; Bond Markets Stay Close to Unchanged

    The overnight session was underwhelming with little movement in Treasuries during Asian or European hours.  By 8:30, 10yr yields were less than 1bp lower than yesterday and Fannie 4.0 MBS only 1/32nd higher.

    The International Trade report was so extremely unimportant to markets that it won't even get it's own separate update this morning, but for record-keeping purposes:

    • Trade deficit $34.25 bln, lowest since Oct 2009
    • Forecast had been $40.0 bln

    The 5 minutes following the data were about the slowest of the day--not typical behavior after data that matters.

    Thankfully, if there's any bias to the day so far, it's a positive one for bond markets.  Fannie 4.0s are currently up 3 ticks at 103-10 and 10yr yields are down 1.26bps at 2.9484.  The afternoon has a few events: a 3yr Note auction at 1pm (usually not much of a market mover if at all) and a speech from San Francisco Fed's Williams at 2:30pm.

    Category: MBS, UPDATE
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  • 1/7/14

    Fannie 4.0s just crossed above the 1/8th of a point mark in terms of improvement from this morning's early rate sheet print times.  In other words, while prices are up 7 ticks in total on the day, 5 of those have come since 9:30am.  This introduces positive reprice potential for a few lenders.  Fannie 4.0s are currently at 103-15.

    10yr yields are now down 2bps to 2.943, their lowest levels of the day/week/month. 

    Category: MBS, UPDATE
    Share:   
  • 1/7/14

    The overnight session was underwhelming with little movement in Treasuries during Asian or European hours.  By 8:30, 10yr yields were less than 1bp lower than yesterday and Fannie 4.0 MBS only 1/32nd higher.

    The International Trade report was so extremely unimportant to markets that it won't even get it's own separate update this morning, but for record-keeping purposes:

    • Trade deficit $34.25 bln, lowest since Oct 2009
    • Forecast had been $40.0 bln

    The 5 minutes following the data were about the slowest of the day--not typical behavior after data that matters.

    Thankfully, if there's any bias to the day so far, it's a positive one for bond markets.  Fannie 4.0s are currently up 3 ticks at 103-10 and 10yr yields are down 1.26bps at 2.9484.  The afternoon has a few events: a 3yr Note auction at 1pm (usually not much of a market mover if at all) and a speech from San Francisco Fed's Williams at 2:30pm.

    Category: MBS, UPDATE
    Share:   
 
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