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You are viewing Micro News from Thursday, Aug 7, 2014 - View all recent Micro News
  • 8/7/14
    Bond Markets Rolled up by Afternoon Snowball Buying (That's a Good Thing)

    Heading into (and out of) the 3pm close for Treasury pit trading, 10yr yields broke through the day's previous lows and have seen follow-through buying since then (now down to 2.419).  Stocks and European futures (both stocks and bonds) are in on the move.

    MBS have finally broken above yesterday's highs, now up 9 ticks at 102-20.  Positive reprices are now more possible than they were with the first rally of the day.

    Category: MBS, UPDATE
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  • 8/7/14
    Treasuries at Best Levels Since Late May after Ukraine Headlines; MBS Lagging

    Bond markets were already doing fairly well, but got another jolt of positivity after newswires hit that a Ukrainian fighter jet was shot down over eastern Ukraine.  The market reaction is due to such headlines standing the chance to be the start of a war/invasion--a hot topic so far this week.

    German Bunds fell to 1.06--another new all-time low--and Treasuries followed by breaking to levels not seen since late May.  10's are currently trading just under 2.44.

    MBS have been lagging Treasuries both in the medium and short term--really, ever since the geopolitical risks stepped to the forefront in July.  All that to say that MBS are NOT at their best levels since late May, and they'd need to gain another half point to make that claim.

    That said, they're still up 6 ticks, which is enough for positive reprice potential.

    Category: MBS, UPDATE
    Share:   
  • 8/7/14
    Bond Markets Holding Just Inside Positive Territory After Data and Draghi

    Yesterday's high yields in Treasuries held as a supportive ceiling during the first part of the overnight session.  As European markets began trading, bonds improved slightly with 10yr Treasuries falling back into the 2.44's and German Bunds hitting new all-time lows again (1.08%).  That happened fairly early on in the European session and things were sideways in stronger territory from there.

    As expected, the ECB (European Central Bank) Announcement contained no surprises.  Jobless Claims were stronger than expected at 289k vs 305k.  Treasuries and MBS weakened just slightly as a result, but supportive comments for ECH Pres. Draghi helped bonds hold their ground.  The important comments included a reiteration of the ECB's commitment to holding rates low and  to working on their version of QE (which will instead be an Asset-Backed-Security purchase program).

    MBS and 10yr yields are currently holding just inside positive territory.

    Category: MBS, UPDATE
    Share:   
 
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  • 8/7/14

    Heading into (and out of) the 3pm close for Treasury pit trading, 10yr yields broke through the day's previous lows and have seen follow-through buying since then (now down to 2.419).  Stocks and European futures (both stocks and bonds) are in on the move.

    MBS have finally broken above yesterday's highs, now up 9 ticks at 102-20.  Positive reprices are now more possible than they were with the first rally of the day.

    Category: MBS, UPDATE
    Share:   
  • 8/7/14

    Bond markets were already doing fairly well, but got another jolt of positivity after newswires hit that a Ukrainian fighter jet was shot down over eastern Ukraine.  The market reaction is due to such headlines standing the chance to be the start of a war/invasion--a hot topic so far this week.

    German Bunds fell to 1.06--another new all-time low--and Treasuries followed by breaking to levels not seen since late May.  10's are currently trading just under 2.44.

    MBS have been lagging Treasuries both in the medium and short term--really, ever since the geopolitical risks stepped to the forefront in July.  All that to say that MBS are NOT at their best levels since late May, and they'd need to gain another half point to make that claim.

    That said, they're still up 6 ticks, which is enough for positive reprice potential.

    Category: MBS, UPDATE
    Share:   
  • 8/7/14

    Yesterday's high yields in Treasuries held as a supportive ceiling during the first part of the overnight session.  As European markets began trading, bonds improved slightly with 10yr Treasuries falling back into the 2.44's and German Bunds hitting new all-time lows again (1.08%).  That happened fairly early on in the European session and things were sideways in stronger territory from there.

    As expected, the ECB (European Central Bank) Announcement contained no surprises.  Jobless Claims were stronger than expected at 289k vs 305k.  Treasuries and MBS weakened just slightly as a result, but supportive comments for ECH Pres. Draghi helped bonds hold their ground.  The important comments included a reiteration of the ECB's commitment to holding rates low and  to working on their version of QE (which will instead be an Asset-Backed-Security purchase program).

    MBS and 10yr yields are currently holding just inside positive territory.

    Category: MBS, UPDATE
    Share:   
 
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