Register or Sign in        Email This Page     Link To This Page    
Visit MND at MBA in NYC!
116,607
# of Subscribers
Micro News Archives
Use the calendar to view Micro News posts from a specific date.
Today  |  Yesterday  |  Random
Bottom Right Default
State Name: Washington
State Name underscore: Washington
State Name dash: Washington
State Name lower underscore: washington
State Name lower dash: washington
State Name lower: washington
State Abbreviation: WA
State Abbreviation Lower: wa
You are viewing Micro News from Monday, Mar 3, 2014 - View all recent Micro News
  • 3/3/14
    Staying Strong Into Final Hours; Ongoing Positive Reprice Potential

    10yr Treasury yields flat-lined between 2.595 and 2.61 at noon.  MBS similarly held steady at their best levels of the day staring at the same time, but have added another few ticks since the 3pm Treasury pit close.

    Fannie 4.0s are now up to 105-02 (a quarter point gain on the day) and Fannie 3.5s are up 9 ticks to 101-22.  Positive reprices are an ongoing possibility.

    Category: MBS, UPDATE
    Share:   
  • 3/3/14
    Holding Ground Despite Slightly Stronger ISM Manufacturing Data

    Bond markets were already coping with weakness ahead of the 10am release of the ISM Manufacturing PMI--the most significant piece of data this morning.  The report came in stronger than expected at the headline level, but there were a few mitigating factors. 

    ISM Manufacturing

    • PMI 53.2 vs 52.0 forecast, 51.3 previously
    • Employment Index unchanged at 52.3
    • Production Index 48.2, first time below 50 since May 2009
    • New Orders 54.5 vs 51.2 previously

    The unchanged employment component helps bond markets hold ground this week, with NFP coming up on Friday and of course, the production index being at 5-year lows is a major counterpoint to the stronger headline (but probably the component most-impacted by the weather). 

    Rather than look at any of the counterpoints in the reports component indices, it's perhaps most useful to simply look at the headline reading.  It's relationship to previous results isn't exactly confidence inspiring.

    2014-3-3 ism

    MBS are 2 ticks off the lows seen heading into the data and Treasuries have recovered as well (still following stocks).

    Category: MBS, UPDATE
    Share:   
  • 3/3/14
    Bond Markets Losing Ground as Flight-to-Safety Unwinds

    Although there's no 'new news' on geopolitical tensions in Ukraine, bond markets are heading back toward weaker territory as equities open stronger.  S&Ps are up 5 points in the first 10 minutes and futures are up nearly 15 points from overnight lows.

    Treasury yields aren't in lock-step with stock prices, but have generally followed the move.  10yr yields are up roughly 3bps from morning lows, but still nearly 3bps stronger from Friday's latest levels.  MBS have given back most of their gains this morning, but are still 2/32nds in the green in both Fannie 3.5s and 4.0s. 

    Category: MBS, UPDATE
    Share:   
  • 3/3/14
    Bond Markets Stronger Overnight, Little-Changed After Data

    Treasuries rallied significantly overnight on geopolitical tensions surrounding Ukraine.  In classic 'flight-to-safety' fashion, stock prices are down big and MBS can't keep up with Treasury gains.  Fannie 3.5s are only up 7 ticks compared to 13 ticks in 10yr Treasury price (0.464 in terms of yield).

    This morning's first round of data--Incomes and Outlays--isn't much of a market mover anyway, but is clearly not up to the task of giving any guidance this morning despite showing stronger-than-expected consumer spending.

    Incomes and Outlays

    • Personal Income +0.3 vs +0.2 forecast
    • Spending +0.4 vs +0.1 forecast
    • Adjustments for ACA affected the spending figures

    Coming up at 10am, the ISM Manufacturing report is in a different league than the spending data from 8:30am.  A noticeably stronger or weaker result will not be as easily overlooked though the situation in Ukraine could serve to limit selling pressure if the ISM data is significantly stronger.

    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
  • 3/3/14

    10yr Treasury yields flat-lined between 2.595 and 2.61 at noon.  MBS similarly held steady at their best levels of the day staring at the same time, but have added another few ticks since the 3pm Treasury pit close.

    Fannie 4.0s are now up to 105-02 (a quarter point gain on the day) and Fannie 3.5s are up 9 ticks to 101-22.  Positive reprices are an ongoing possibility.

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

    Bond markets were already coping with weakness ahead of the 10am release of the ISM Manufacturing PMI--the most significant piece of data this morning.  The report came in stronger than expected at the headline level, but there were a few mitigating factors. 

    ISM Manufacturing

    • PMI 53.2 vs 52.0 forecast, 51.3 previously
    • Employment Index unchanged at 52.3
    • Production Index 48.2, first time below 50 since May 2009
    • New Orders 54.5 vs 51.2 previously

    The unchanged employment component helps bond markets hold ground this week, with NFP coming up on Friday and of course, the production index being at 5-year lows is a major counterpoint to the stronger headline (but probably the component most-impacted by the weather). 

    Rather than look at any of the counterpoints in the reports component indices, it's perhaps most useful to simply look at the headline reading.  It's relationship to previous results isn't exactly confidence inspiring.

    2014-3-3 ism

    MBS are 2 ticks off the lows seen heading into the data and Treasuries have recovered as well (still following stocks).

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

    Although there's no 'new news' on geopolitical tensions in Ukraine, bond markets are heading back toward weaker territory as equities open stronger.  S&Ps are up 5 points in the first 10 minutes and futures are up nearly 15 points from overnight lows.

    Treasury yields aren't in lock-step with stock prices, but have generally followed the move.  10yr yields are up roughly 3bps from morning lows, but still nearly 3bps stronger from Friday's latest levels.  MBS have given back most of their gains this morning, but are still 2/32nds in the green in both Fannie 3.5s and 4.0s. 

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

    Treasuries rallied significantly overnight on geopolitical tensions surrounding Ukraine.  In classic 'flight-to-safety' fashion, stock prices are down big and MBS can't keep up with Treasury gains.  Fannie 3.5s are only up 7 ticks compared to 13 ticks in 10yr Treasury price (0.464 in terms of yield).

    This morning's first round of data--Incomes and Outlays--isn't much of a market mover anyway, but is clearly not up to the task of giving any guidance this morning despite showing stronger-than-expected consumer spending.

    Incomes and Outlays

    • Personal Income +0.3 vs +0.2 forecast
    • Spending +0.4 vs +0.1 forecast
    • Adjustments for ACA affected the spending figures

    Coming up at 10am, the ISM Manufacturing report is in a different league than the spending data from 8:30am.  A noticeably stronger or weaker result will not be as easily overlooked though the situation in Ukraine could serve to limit selling pressure if the ISM data is significantly stronger.

    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 4.16%
  • |
  • 15 Yr FRM 3.30%
  • |
  • Jumbo 30 Year Fixed 4.00%
MBS Prices:
  • 30YR FNMA 4.5 107-31 (0-03)
  • |
  • 30YR FNMA 5.0 110-10 (0-02)
  • |
  • 30YR FNMA 5.5 111-06 (0-00)
Recent Housing Data:
  • Mortgage Apps 1.90%
  • |
  • Refinance Index 0.38%
  • |
  • FHFA Home Price Index 0.67%