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You are viewing Micro News from Wednesday, Apr 2, 2014 - View all recent Micro News
  • 4/2/14
    10yr yields just broke to their session highs, matching...
    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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  • 4/2/14
    From the time of morning that the earliest lenders...
    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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  • 4/2/14
    10yr Yields Crest 2.80, MBS at Fresh Lows After Factory Orders Data

    Factory Orders data?  Yes.

    It doesn't typically have much of an impact, and today is no different, but it's at the right place, at the right time to nudge 10yr yields over the technical ceiling at 2.80.  The data itself was slightly stronger than expected, coming in at +1.6 vs a +1.2 forecast.  Taken together with a downward revision last month (-1.0 vs -0.7 previously), it's nothing to write home about, but continues to build a case that economic data may be moving away from the winter doldrums.

    10yr yields are just over 2.80 at the moment and Fannie 4.0s are now down a full quarter point (8 ticks) to 103-21.  Given the non-epic nature of the data, the selling pressure is similarly non-epic, and has actually already abated somewhat as I type.  Not enough weakness for reprices.

    Category: MBS, UPDATE
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  • 4/2/14
    Could this be the pre-NFP lead-off? The sharper mover...
    MBS Updates are a service provided to MBS Live! subscribers only.
    Learn More | Start a Free Trial | View MBS Prices
    Category: MBS, alert
    Share:   
  • 4/2/14
    Bond Markets Initially Weaker After 'Near-Consensus' ADP Numbers

    Treasuries were slightly weaker overnight, rising from roughly 2.755 to 2.775 on the approach to the morning's only significant data: the ADP Employment Report.  It came in at 191k vs a 195k forecast, but the bigger news was the revision of the previous month from 139k to 178k.

    The initial move for bond markets has been weaker, but so far 10's are only up to 2.781--just marginally higher than overnight highs--and Fannie 4.0s are only down to 103-23.  It doesn't look like markets are viewing this as grounds for a runaway sell-off nor are stocks looking too interested in a runaway rally.  Sideways-to-slightly-weaker momentum continues.

    Category: MBS, UPDATE
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  • 4/2/14
    10yr yields just broke to their session highs, matching...
    MBS Updates are a service provided to MBS Live! subscribers only.
    Learn More | Start a Free Trial | View MBS Prices
    Category: MBS, alert
    Share:   
  • 4/2/14
    From the time of morning that the earliest lenders...
    MBS Updates are a service provided to MBS Live! subscribers only.
    Learn More | Start a Free Trial | View MBS Prices
    Category: MBS, alert
    Share:   
  • 4/2/14

    Factory Orders data?  Yes.

    It doesn't typically have much of an impact, and today is no different, but it's at the right place, at the right time to nudge 10yr yields over the technical ceiling at 2.80.  The data itself was slightly stronger than expected, coming in at +1.6 vs a +1.2 forecast.  Taken together with a downward revision last month (-1.0 vs -0.7 previously), it's nothing to write home about, but continues to build a case that economic data may be moving away from the winter doldrums.

    10yr yields are just over 2.80 at the moment and Fannie 4.0s are now down a full quarter point (8 ticks) to 103-21.  Given the non-epic nature of the data, the selling pressure is similarly non-epic, and has actually already abated somewhat as I type.  Not enough weakness for reprices.

    Category: MBS, UPDATE
    Share:   
  • 4/2/14
    Could this be the pre-NFP lead-off? The sharper mover...
    MBS Updates are a service provided to MBS Live! subscribers only.
    Learn More | Start a Free Trial | View MBS Prices
    Category: MBS, alert
    Share:   
  • 4/2/14

    Treasuries were slightly weaker overnight, rising from roughly 2.755 to 2.775 on the approach to the morning's only significant data: the ADP Employment Report.  It came in at 191k vs a 195k forecast, but the bigger news was the revision of the previous month from 139k to 178k.

    The initial move for bond markets has been weaker, but so far 10's are only up to 2.781--just marginally higher than overnight highs--and Fannie 4.0s are only down to 103-23.  It doesn't look like markets are viewing this as grounds for a runaway sell-off nor are stocks looking too interested in a runaway rally.  Sideways-to-slightly-weaker momentum continues.

    Category: MBS, UPDATE
    Share:   
 
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