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You are viewing Micro News from Monday, Apr 28, 2014 - View all recent Micro News
  • 4/28/14
    Nothing new to report other than a very modest continuation...
    MBS Updates are a service provided to MBS Live! subscribers only.
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    Category: MBS, alert
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  • 4/28/14
    After moving roughly 25 points from peak to trough...
    MBS Updates are a service provided to MBS Live! subscribers only.
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    Category: MBS, alert
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  • 4/28/14
    MBS Back Into Positive Territory as Stock Melt Down

    After drifting up from the weakest levels of the morning, prices have taken a sharper turn higher as selling in stocks kicks into high gear.  The S&P is off more than 20 points from 10am highs at the moment. 

    10yr yields have only fallen 2-3bps since the faster-paced movement began, and aren't even back to 'unchanged' yet.  MBS, on the other hand, are outperforming a bit, and now back to positive territory.  Fannie 4.0s are up 2 ticks at 104-19. 

    Keep in mind that the pace of today's move looks sharper than it is in the bigger picture because the recent range is narrow.  If we zoom out to a wider time frames, this is just more movement within well-established boundaries.

    Even so, we have enough positivity here for some lenders to consider positive reprices when prices ultimately level-off.  Beyond that, the more important development is the minimization of negative reprice risk--something this rally surely accomplishes.

    Category: MBS, UPDATE
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  • 4/28/14
    While the range so far today is still too narrow for...
    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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  • 4/28/14
    Bond Markets Slightly Weaker; Some Volatility

    Treasuries drifted into weaker territory to start the overnight session and never made it back below Friday's closing yields.  On a relative basis, German Bunds have been much more volatile than Treasuries, and they've been behind some of the moves seen so far this morning.

    Most notably, Bunds (Germany's 10yr government debt) began rallying to their best levels of the day just after 8am.  Treasuries followed with US 10's nearly hitting 'unchanged,' but both bounced just after 9am.  Despite several headlines on US/Russia sanctions, Bank of America capital plans, and the ECB QE outlook, markets lack conviction so far this week.

    MBS took cues from Treasuries to open in noticeably weaker territory and to rally from there.  But unlike Treasuries, MBS haven't given up as much of the rally and Fannie 4.0s are currently holding unchanged levels.

    The only domestic data on tap is Pending Home Sales at 10am, expected to come in at 95.3

    Category: MBS, UPDATE
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  • 4/28/14
    Nothing new to report other than a very modest continuation...
    MBS Updates are a service provided to MBS Live! subscribers only.
    Learn More | Start a Free Trial | View MBS Prices
    Category: MBS, alert
    Share:   
  • 4/28/14
    After moving roughly 25 points from peak to trough...
    MBS Updates are a service provided to MBS Live! subscribers only.
    Learn More | Start a Free Trial | View MBS Prices
    Category: MBS, alert
    Share:   
  • 4/28/14

    After drifting up from the weakest levels of the morning, prices have taken a sharper turn higher as selling in stocks kicks into high gear.  The S&P is off more than 20 points from 10am highs at the moment. 

    10yr yields have only fallen 2-3bps since the faster-paced movement began, and aren't even back to 'unchanged' yet.  MBS, on the other hand, are outperforming a bit, and now back to positive territory.  Fannie 4.0s are up 2 ticks at 104-19. 

    Keep in mind that the pace of today's move looks sharper than it is in the bigger picture because the recent range is narrow.  If we zoom out to a wider time frames, this is just more movement within well-established boundaries.

    Even so, we have enough positivity here for some lenders to consider positive reprices when prices ultimately level-off.  Beyond that, the more important development is the minimization of negative reprice risk--something this rally surely accomplishes.

    Category: MBS, UPDATE
    Share:   
  • 4/28/14
    While the range so far today is still too narrow for...
    MBS Updates are a service provided to MBS Live! subscribers only.
    Learn More | Start a Free Trial | View MBS Prices
    Category: MBS, alert
    Share:   
  • 4/28/14

    Treasuries drifted into weaker territory to start the overnight session and never made it back below Friday's closing yields.  On a relative basis, German Bunds have been much more volatile than Treasuries, and they've been behind some of the moves seen so far this morning.

    Most notably, Bunds (Germany's 10yr government debt) began rallying to their best levels of the day just after 8am.  Treasuries followed with US 10's nearly hitting 'unchanged,' but both bounced just after 9am.  Despite several headlines on US/Russia sanctions, Bank of America capital plans, and the ECB QE outlook, markets lack conviction so far this week.

    MBS took cues from Treasuries to open in noticeably weaker territory and to rally from there.  But unlike Treasuries, MBS haven't given up as much of the rally and Fannie 4.0s are currently holding unchanged levels.

    The only domestic data on tap is Pending Home Sales at 10am, expected to come in at 95.3

    Category: MBS, UPDATE
    Share:   
 
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