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You are viewing Micro News from Wednesday, Feb 5, 2014 - View all recent Micro News
  • 2/5/14
    Whereas MBS had been bouncing along their lows at the...
    MBS Updates are a service provided to MBS Live! subscribers only.
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    Category: MBS, alert
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  • 2/5/14
    Although bond markets were able to stem losses heading...
    MBS Updates are a service provided to MBS Live! subscribers only.
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    Category: MBS, alert
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  • 2/5/14
    MBS prices are currently no lower than they were following...
    MBS Updates are a service provided to MBS Live! subscribers only.
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    Category: MBS, alert
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  • 2/5/14
    ISM Non-Manufacturing data came in stronger than expected...
    MBS Updates are a service provided to MBS Live! subscribers only.
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    Category: MBS, alert
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  • 2/5/14
    Now at Weakest Levels Thanks to Stock Lever

    While bond markets improved as stocks slid after this morning's ADP data, those trends have reversed mid-morning.  Stocks continue to provide the best guidance for MBS and Treasuries where a move from 1745 to 1743 in S&P Futures has been good for a move from 2.60 to 2.626 in 10yr yields.

    MBS experienced the same move as a fall from 104-31+ to 104-28 presently.  The next chance for economic data to have a say will come at 10am with ISM Non-Manufacturing, but until then, stocks continue to be the highest-probability bet.

    Category: MBS, UPDATE
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  • 2/5/14
    Bond Markets Improve After Slightly Weaker ADP

    The overnight session was fairly uneventful for Treasuries with 10's moving just slightly lower ahead of this morning's ADP Employment data.  MBS opened 1/32nd higher vs yesterday's latest levels.

    The ADP numbers were slightly weaker than expected--emphasis on "slightly."  Here are the details:

    ADP Employment Report

    • Jan Payrolls +175k vs +180k forecast
    • Dec Payrolls revised to 227k from 238k
    • Jan Payroll improvement is smallest since August
    • Full Report

    Perhaps if the headline had been farther away from the consensus, we would have seen more of an immediate reaction, but as it happened, bond markets didn't move much at first.  It wasn't until equities futures began sliding into 8:20am that bond yields made their most pronounced move of the morning. 

    The stock lever continues to be quite well connected with stocks and yields bouncing at 8:23am.  10's hit a low of 2.5986 and are currently up to 2.606.  MBS topped out at 105-01 in Fannie 4.0s and are at 104-31+ presently, an eighth of a point higher on the day.

    Category: MBS, UPDATE
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  • 2/5/14
    Whereas MBS had been bouncing along their lows at the...
    MBS Updates are a service provided to MBS Live! subscribers only.
    Learn More | Start a Free Trial | View MBS Prices
    Category: MBS, alert
    Share:   
  • 2/5/14
    Although bond markets were able to stem losses heading...
    MBS Updates are a service provided to MBS Live! subscribers only.
    Learn More | Start a Free Trial | View MBS Prices
    Category: MBS, alert
    Share:   
  • 2/5/14
    MBS prices are currently no lower than they were following...
    MBS Updates are a service provided to MBS Live! subscribers only.
    Learn More | Start a Free Trial | View MBS Prices
    Category: MBS, alert
    Share:   
  • 2/5/14
    ISM Non-Manufacturing data came in stronger than expected...
    MBS Updates are a service provided to MBS Live! subscribers only.
    Learn More | Start a Free Trial | View MBS Prices
    Category: MBS, alert
    Share:   
  • 2/5/14

    While bond markets improved as stocks slid after this morning's ADP data, those trends have reversed mid-morning.  Stocks continue to provide the best guidance for MBS and Treasuries where a move from 1745 to 1743 in S&P Futures has been good for a move from 2.60 to 2.626 in 10yr yields.

    MBS experienced the same move as a fall from 104-31+ to 104-28 presently.  The next chance for economic data to have a say will come at 10am with ISM Non-Manufacturing, but until then, stocks continue to be the highest-probability bet.

    Category: MBS, UPDATE
    Share:   
  • 2/5/14

    The overnight session was fairly uneventful for Treasuries with 10's moving just slightly lower ahead of this morning's ADP Employment data.  MBS opened 1/32nd higher vs yesterday's latest levels.

    The ADP numbers were slightly weaker than expected--emphasis on "slightly."  Here are the details:

    ADP Employment Report

    • Jan Payrolls +175k vs +180k forecast
    • Dec Payrolls revised to 227k from 238k
    • Jan Payroll improvement is smallest since August
    • Full Report

    Perhaps if the headline had been farther away from the consensus, we would have seen more of an immediate reaction, but as it happened, bond markets didn't move much at first.  It wasn't until equities futures began sliding into 8:20am that bond yields made their most pronounced move of the morning. 

    The stock lever continues to be quite well connected with stocks and yields bouncing at 8:23am.  10's hit a low of 2.5986 and are currently up to 2.606.  MBS topped out at 105-01 in Fannie 4.0s and are at 104-31+ presently, an eighth of a point higher on the day.

    Category: MBS, UPDATE
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