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You are viewing Micro News from Monday, Feb 3, 2014 - View all recent Micro News
  • 2/3/14
    Heading Out at Best Levels

    Just a quick update for our members who may not be checking in on price levels this afternoon.  We've simply been treated to yet another linear, methodical move higher in MBS thanks in large part to an exceptionally large sell-off in equities. 

    While there is no market rule that says bonds win as stocks lose, that's what's happening at the moment, with the immense magnitude of stock losses making for unexpectedly strong gains in bond markets.  10yr yields are leveling off around 2.57-2.58 into the close and Fannie 4.0s at 105-04--both right in line with the day's best levels. 

    Category: MBS, UPDATE
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  • 2/3/14
    The Fannie Mae 4.0 coupon has moved to the highs of...
    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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  • 2/3/14
    Bond Markets Surge After Weaker-Than-Expected ISM Data

    MBS just jumped well into new highs for the day and year following a weaker-than-expected ISM Manufacturing report.  Fannie 4.0s are up 6 ticks on the day at 105-00.  They haven't been in the 105's since November 20th. 

    10yr yields dropped from 2.67 to 2.63 on the news and have inched down to 2.62 since then.  The ISM data series--both the manufacturing and non-manufacturing are some of the biggest market movers outside Nonfarm payrolls data.  This instance was particularly weak though, adding to the punch.

    ISM Manufacturing Recap

    • PMI at 51.3 vs 56.0 forecast, 56.5 previously
    • Prices Paid 60.5 vs 54.0 forecast
    • New Orders 51.4 vs 64.4 previously
    • Employment 52.3 vs 55.8 previously
    • Activity and Orders lowest since May
    • Drop in orders is largest since Dec 1980
    • Employment lowest since June
    • Full Release

    Category: MBS, UPDATE
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  • 2/3/14
    Bond Markets Slightly Weaker; Holding Ground so Far

    The overnight session was reasonably active despite the Chinese New Year sidelining some participants.  The Nikkei opened higher along with US Treasury yields and both declined mildly into European hours.  Stronger manufacturing in Europe weighed on bonds and pulled US Treasury yields higher into the domestic session.

    10yr yields opened at 2.676 while Fannie 4.0s began the day at 104-21.  They've both recovered somewhat since then to 2.673 and 104-24 respectively.  All in all, there hasn't been much movement despite the activity.

    The most significant data of the day is the 10am ISM Manufacturing report, expected in at 56.0.  The less important Markit manufacturing numbers just hit the wires at the lowest levels since October with the weakness blamed on the weather.

    Category: MBS, UPDATE
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  • 2/3/14

    Just a quick update for our members who may not be checking in on price levels this afternoon.  We've simply been treated to yet another linear, methodical move higher in MBS thanks in large part to an exceptionally large sell-off in equities. 

    While there is no market rule that says bonds win as stocks lose, that's what's happening at the moment, with the immense magnitude of stock losses making for unexpectedly strong gains in bond markets.  10yr yields are leveling off around 2.57-2.58 into the close and Fannie 4.0s at 105-04--both right in line with the day's best levels. 

    Category: MBS, UPDATE
    Share:   
  • 2/3/14
    The Fannie Mae 4.0 coupon has moved to the highs of...
    MBS Updates are a service provided to MBS Live! subscribers only.
    Learn More | Start a Free Trial | View MBS Prices
    Category: MBS, alert
    Share:   
  • 2/3/14

    MBS just jumped well into new highs for the day and year following a weaker-than-expected ISM Manufacturing report.  Fannie 4.0s are up 6 ticks on the day at 105-00.  They haven't been in the 105's since November 20th. 

    10yr yields dropped from 2.67 to 2.63 on the news and have inched down to 2.62 since then.  The ISM data series--both the manufacturing and non-manufacturing are some of the biggest market movers outside Nonfarm payrolls data.  This instance was particularly weak though, adding to the punch.

    ISM Manufacturing Recap

    • PMI at 51.3 vs 56.0 forecast, 56.5 previously
    • Prices Paid 60.5 vs 54.0 forecast
    • New Orders 51.4 vs 64.4 previously
    • Employment 52.3 vs 55.8 previously
    • Activity and Orders lowest since May
    • Drop in orders is largest since Dec 1980
    • Employment lowest since June
    • Full Release

    Category: MBS, UPDATE
    Share:   
  • 2/3/14

    The overnight session was reasonably active despite the Chinese New Year sidelining some participants.  The Nikkei opened higher along with US Treasury yields and both declined mildly into European hours.  Stronger manufacturing in Europe weighed on bonds and pulled US Treasury yields higher into the domestic session.

    10yr yields opened at 2.676 while Fannie 4.0s began the day at 104-21.  They've both recovered somewhat since then to 2.673 and 104-24 respectively.  All in all, there hasn't been much movement despite the activity.

    The most significant data of the day is the 10am ISM Manufacturing report, expected in at 56.0.  The less important Markit manufacturing numbers just hit the wires at the lowest levels since October with the weakness blamed on the weather.

    Category: MBS, UPDATE
    Share:   
 
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