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: New Jersey
State Name underscore: New_Jersey
State Name dash: New-Jersey
State Name lower underscore: new_jersey
State Name lower dash: new-jersey
State Name lower: new jersey
State Abbreviation: NJ
State Abbreviation Lower: nj
You are viewing Micro News from Monday, Mar 10, 2014 - View all recent Micro News
  • 3/10/14
    Still Very Quiet; Some Reprices After Modest Improvements

    While we have yet to sustain more than an eighth of a point in gains, a few lenders have indeed come through with the "stability reprices" mentioned earlier.  Fannie 4.0s are up 4 ticks on the day while 10yr yields continue hanging out mostly between .5-1bp lower (currently 2.7843). 

    In the absence of substantive market movers, Treasuries, stocks, European markets have mostly been moving as a herd.  Volatility decreased after European closed and it doesn't look like it wants to come back today.  Volume is low.  Nothing is going on.  Anticlimactic Monday (but better than strong NFP-inspired follow-through selling).

    Category: MBS, UPDATE
    Share:   
  • 3/10/14
    European Markets and Stocks Helping Bond Markets

    MBS and Treasuries are at slightly stronger levels compared to this morning.  European markets are still pushing the pace to a large extent with stocks sliding on on Ukraine headlines and Bunds (10yr German debt) improving.  Shifting momentum for the S&P at 9:50am coincided with a similar shift for Treasuries (from higher to lower yields).

    All that having been said, the market sectors providing the guidance for domestic bond markets are moving much more than bond markets themselves.  For the 10pt slide seen in S&P, Treasury yields only dropped 2bps (currently down only 1.1bps on the day at 2.781).

    Fannie 4.0s are up 3 ticks on the day but only 2 of them since the earliest rate sheets.  That means positive reprice risk is not on the radar except for those less common cases where lenders are simply looking for a certain amount of stability after having priced relatively conservatively right out of the gate.

    Category: MBS, UPDATE
    Share:   
  • 3/10/14
    Bond Markets Little Changed After Quiet Overnight Session

    Weak economic data out of China provided a mild boost for Treasuries early in the overnight session while rallying equities in Europe sent yields back in the other direction.  By 8am 10yr yields were less than half a bp higher than Friday's latest levels and MBS were content to walk in the door perfectly unchanged.

    Both have improved just slightly since then with the turning point being the 8:20am CME open (Treasury futures pit trading). 

    Bonds face some challenging headwinds from a potential shift in momentum following last week's NFP.  Near term inspiration to move higher or lower is going to be hard to find unless it jumps out at us (i.e. not much going on until Thursday).  As such, the absence of a continued sell-off gives the first small clue in determining bond markets' innate desires (as in "there are none yet").

    Category: MBS, UPDATE
    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
  • 3/10/14

    While we have yet to sustain more than an eighth of a point in gains, a few lenders have indeed come through with the "stability reprices" mentioned earlier.  Fannie 4.0s are up 4 ticks on the day while 10yr yields continue hanging out mostly between .5-1bp lower (currently 2.7843). 

    In the absence of substantive market movers, Treasuries, stocks, European markets have mostly been moving as a herd.  Volatility decreased after European closed and it doesn't look like it wants to come back today.  Volume is low.  Nothing is going on.  Anticlimactic Monday (but better than strong NFP-inspired follow-through selling).

    Category: MBS, UPDATE
    Share:   
  • 3/10/14

    MBS and Treasuries are at slightly stronger levels compared to this morning.  European markets are still pushing the pace to a large extent with stocks sliding on on Ukraine headlines and Bunds (10yr German debt) improving.  Shifting momentum for the S&P at 9:50am coincided with a similar shift for Treasuries (from higher to lower yields).

    All that having been said, the market sectors providing the guidance for domestic bond markets are moving much more than bond markets themselves.  For the 10pt slide seen in S&P, Treasury yields only dropped 2bps (currently down only 1.1bps on the day at 2.781).

    Fannie 4.0s are up 3 ticks on the day but only 2 of them since the earliest rate sheets.  That means positive reprice risk is not on the radar except for those less common cases where lenders are simply looking for a certain amount of stability after having priced relatively conservatively right out of the gate.

    Category: MBS, UPDATE
    Share:   
  • 3/10/14

    Weak economic data out of China provided a mild boost for Treasuries early in the overnight session while rallying equities in Europe sent yields back in the other direction.  By 8am 10yr yields were less than half a bp higher than Friday's latest levels and MBS were content to walk in the door perfectly unchanged.

    Both have improved just slightly since then with the turning point being the 8:20am CME open (Treasury futures pit trading). 

    Bonds face some challenging headwinds from a potential shift in momentum following last week's NFP.  Near term inspiration to move higher or lower is going to be hard to find unless it jumps out at us (i.e. not much going on until Thursday).  As such, the absence of a continued sell-off gives the first small clue in determining bond markets' innate desires (as in "there are none yet").

    Category: MBS, UPDATE
    Share:   
 
No Micro News Posts Here.

Options:
 
 
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 3.86%
  • |
  • 15 Yr FRM 3.12%
  • |
  • Jumbo 30 Year Fixed 3.73%
MBS Prices:
  • 30YR FNMA 4.5 108-12 (0-01)
  • |
  • 30YR FNMA 5.0 110-12 (0-02)
  • |
  • 30YR FNMA 5.5 111-25 (0-00)
Recent Housing Data:
  • Mortgage Apps 4.93%
  • |
  • Refinance Index 0.90%
  • |
  • FHFA Home Price Index 0.67%