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You are viewing Micro News from Tuesday, Jul 1, 2014 - View all recent Micro News
  • 7/1/14
    As was the case with the last alert, we don't have...
    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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  • 7/1/14
    10yr yields are leading progressively higher into the...
    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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  • 7/1/14
    IMPORTANT: New Version of MBS Live

    If you've ALREADY REQUESTED an invitation:

    If you've already clicked an invitation link in one of our past announcements, but haven't received your invitation email, you still have access to the new site.  Access it here* (use your current username and password):

    http://app.mbslive.net

    If you HAVE NOT REQUESTED an invitation:

    You can do so here*: 

    http://mndne.ws/1va8IZn

    Category: MBS, UPDATE
    Share:   
  • 7/1/14
    Tame ISM Data Makes for Short-Lived Bond Market Strength, Hard-Fought Gains

    To be fair to the prospects for "bond market strength," we haven't really given it much time to develop.  That said, the initial reaction to ISM data has been underwhelming at best, and potentially reversing at worst.  First a run-down on the data:

    • June ISM Purchasing Managers Index 55.3 vs 55.8 forecast, 55.4 previously
    • Prices paid 58.0 vs 60.3 forecast
    • Employment 52.8 vs 53.2 forecast

    Quick thoughts: this was close enough to the forecast as to not hold any profound commentary on the state of the economy.  Unfortunately, the intact trend for ISM has been that "parabolic bounce back" from this morning's Day Ahead.  This keeps that intact, so could be seen as a net negative for bond markets in that light.

    The first reaction for Treasuries and MBS was a modest move toward better levels.  Shortly thereafter, it was completely unwound.  Now we're waiting to see if pre-ISM weak points will hold.  So far they are, but levels are VERY close.  Could still go either way here.  Feels like every tick in the right direction is hard-fought.

    Category: MBS, UPDATE
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  • 7/1/14
    This is one of those days where MBS and Treasuries'...
    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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  • 7/1/14
    As was the case with the last alert, we don't have...
    MBS Updates are a service provided to MBS Live! subscribers only.
    Learn More | Start a Free Trial | View MBS Prices
    Category: MBS, alert
    Share:   
  • 7/1/14
    10yr yields are leading progressively higher into 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:   
  • 7/1/14

    If you've ALREADY REQUESTED an invitation:

    If you've already clicked an invitation link in one of our past announcements, but haven't received your invitation email, you still have access to the new site.  Access it here* (use your current username and password):

    http://app.mbslive.net

    If you HAVE NOT REQUESTED an invitation:

    You can do so here*: 

    http://mndne.ws/1va8IZn

    Category: MBS, UPDATE
    Share:   
  • 7/1/14

    To be fair to the prospects for "bond market strength," we haven't really given it much time to develop.  That said, the initial reaction to ISM data has been underwhelming at best, and potentially reversing at worst.  First a run-down on the data:

    • June ISM Purchasing Managers Index 55.3 vs 55.8 forecast, 55.4 previously
    • Prices paid 58.0 vs 60.3 forecast
    • Employment 52.8 vs 53.2 forecast

    Quick thoughts: this was close enough to the forecast as to not hold any profound commentary on the state of the economy.  Unfortunately, the intact trend for ISM has been that "parabolic bounce back" from this morning's Day Ahead.  This keeps that intact, so could be seen as a net negative for bond markets in that light.

    The first reaction for Treasuries and MBS was a modest move toward better levels.  Shortly thereafter, it was completely unwound.  Now we're waiting to see if pre-ISM weak points will hold.  So far they are, but levels are VERY close.  Could still go either way here.  Feels like every tick in the right direction is hard-fought.

    Category: MBS, UPDATE
    Share:   
  • 7/1/14
    This is one of those days where MBS and Treasuries'...
    MBS Updates are a service provided to MBS Live! subscribers only.
    Learn More | Start a Free Trial | View MBS Prices
    Category: MBS, alert
    Share:   
 
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