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You are viewing Micro News from Thursday, May 8, 2014 - View all recent Micro News
  • 5/8/14
    First of all, if you haven't read this morning's...
    MBS Updates are a service provided to MBS Live! subscribers only.
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    Category: MBS, alert
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  • 5/8/14
    After getting rocked (relatively) by the 30yr bond...
    MBS Updates are a service provided to MBS Live! subscribers only.
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    Category: MBS, alert
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  • 5/8/14
    More detail later after the initial alert, but the...
    MBS Updates are a service provided to MBS Live! subscribers only.
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    Category: MBS, alert
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  • 5/8/14
    Best Levels of the Day After Yellen Comments

    Speaking currently at the Senate Budget Committee, Fed Chair Yellen said "interest rates are unlikely to begin rising until we're in a strong economic recovery."  

    The tacit implication is that we're not currently in such a recovery--not a surprise to many MBS Live members, but refreshing to consider from the Fed Chair.

    Fannie 3.5s are now up 5 ticks on the day to 102-15 and 10yr yields fell to the lows of the day, down 3.6bps at 2.586.

    Some lenders--especially those who released rates just after the last downswing in prices, may already be in a position to consider positive reprices if MBS levels hold here or move higher.

    Category: MBS, UPDATE
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  • 5/8/14
    Bond Markets Unchanged Overnight; MBS Edge Into Positive Territory

    The overnight session was largely uneventful for Treasuries.  Just like MBS roll to their next coupon tonight (Fannie and Freddie 30yr only), 10yr yields rolled to their new coupon at the start of the overnight session, making for the appearance of an abrupt move higher in yield.  Just like the MBS roll, it's not actual market movement.  We're just changing the security we look at to determine "10yr yields" from the old one, to the new one.

    The first meaningful movement of the day came after the jobless claims data, though 'meaningful' is a stretch.  Claims were slightly stronger than expected (319k vs 325k forecast) and 'Continued Claims' fell to 2.685 from 2.761 previously.  10yr yields moved up from 2.616 to 2.623 initially, but are back down to the lows of the morning at 2.611 presently.

    MBS are outperforming, and haven't lost any ground since 8:30.  In fact, Fannie 4.0s and 3.5s JUST moved into positive territory on the day--both up 1/32nd. 

    ECB President Mario Draghi is in the middle of his post-announcement press conference, but hasn't said anything to move markets enough as to be felt across the Atlantic.

    Category: MBS, UPDATE
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  • 5/8/14
    First of all, if you haven't read this morning's...
    MBS Updates are a service provided to MBS Live! subscribers only.
    Learn More | Start a Free Trial | View MBS Prices
    Category: MBS, alert
    Share:   
  • 5/8/14
    After getting rocked (relatively) by the 30yr bond...
    MBS Updates are a service provided to MBS Live! subscribers only.
    Learn More | Start a Free Trial | View MBS Prices
    Category: MBS, alert
    Share:   
  • 5/8/14
    More detail later after the initial alert, but 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:   
  • 5/8/14

    Speaking currently at the Senate Budget Committee, Fed Chair Yellen said "interest rates are unlikely to begin rising until we're in a strong economic recovery."  

    The tacit implication is that we're not currently in such a recovery--not a surprise to many MBS Live members, but refreshing to consider from the Fed Chair.

    Fannie 3.5s are now up 5 ticks on the day to 102-15 and 10yr yields fell to the lows of the day, down 3.6bps at 2.586.

    Some lenders--especially those who released rates just after the last downswing in prices, may already be in a position to consider positive reprices if MBS levels hold here or move higher.

    Category: MBS, UPDATE
    Share:   
  • 5/8/14

    The overnight session was largely uneventful for Treasuries.  Just like MBS roll to their next coupon tonight (Fannie and Freddie 30yr only), 10yr yields rolled to their new coupon at the start of the overnight session, making for the appearance of an abrupt move higher in yield.  Just like the MBS roll, it's not actual market movement.  We're just changing the security we look at to determine "10yr yields" from the old one, to the new one.

    The first meaningful movement of the day came after the jobless claims data, though 'meaningful' is a stretch.  Claims were slightly stronger than expected (319k vs 325k forecast) and 'Continued Claims' fell to 2.685 from 2.761 previously.  10yr yields moved up from 2.616 to 2.623 initially, but are back down to the lows of the morning at 2.611 presently.

    MBS are outperforming, and haven't lost any ground since 8:30.  In fact, Fannie 4.0s and 3.5s JUST moved into positive territory on the day--both up 1/32nd. 

    ECB President Mario Draghi is in the middle of his post-announcement press conference, but hasn't said anything to move markets enough as to be felt across the Atlantic.

    Category: MBS, UPDATE
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