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MBS and Treasuries continue to trade at significantly improved levels from this morning . Bond markets put in their first major bounce shortly after the domestic open on rumors that the private sector announcement that was set to follow Wednesday's Eurogroup meeting would be delayed. Since then, limited European headlines (none really...) and non-existent economic data left today's scheduled Fed buying as the primary market mover. Even though today's Fed buying was in the longest maturities, it provided...

This morning's alert from MBS Live!: Bond Markets Near Unchanged. New Gov For Greece. Italy Takes Torch 8:48 AM Looking at trading levels this morning in MBS, it almost looks like nothing happened over the weekend. Things are relatively flat with the whole stack 1-2 tick in the red at the moment versus Friday's latest levels, which were also some of the highest. So Fannie 3.5's being down 2 ticks isn't so much of the story compared to the fact that they trade at 102-03 currently--higher than 80%...

One of the possibilities we've been following, moreso around the 19th and 20th than recently, has been the possibility (or overly-optimistic hope?) that 10yr yields were in some sort of bullish correction after hitting 2.25-ish. We'd noted recently, how that trend was broken and how yields even returned to the scene of the crime to bounce off the upper line as resistance. Earlier today, the big rally brought yields exactly to that trendline again (pictured in the white circle below) and while respect...

If you haven't heard/seen from multiple sources, multiple times, the story of the morning is certainly the long-awaited release of more information on the next evolution of HARP. Things have come a long way in a short time and ultimately it feels like the FHFA agreed to include "more than expected" at least if Demarco's first official statement on the matter serves as the baseline. From that initial focus on lifting the LTV caps, we've added LLPA relief (although, with caveats), Reps and Warrants...

Actually, MBS are 2 ticks UP as opposed to down, but I refuse to rewrite this blog and re-do my charts simply because markets are too flighty and indecisive regarding all the headline drama right now... That's it... Game over man... Game over... Can't take it any more... Give me the foil hat and conspiracy theory pamphlet... The rest of my natural life will be devoted to waiting for any piece of news about the EFSF and basing all decision-making and analysis on that. Seriously though, markets have...

If you haven't already noticed it in your mind's eye, there's a nice, well-behaved trend channel in MBS over the past two days (for those that need a refresher, Investopedia's Definitio n is good). The trend channel in Fannie 3.5 MBS is seen in the chart below, and while you'll nice how regular this channel has been (despite some volatility), you might also notice that we haven't been able to make any new highs since this morning, and also may need to look back to previous highs to see how challenging...

From a recent alert on the MBS Dashboard: "Late day illiquidity and a stock market rally are weighing on MBS this afternoon. Prices are in line with their lows of the day and while the reprice scene has been fairly quiet today, it's not out of the realm of possibility for a lender or two to take some rebate off the table heading into the weekend. Fannie 3.5's are down 12 ticks on the day at 100-22 and 4.0's are down 8 ticks at 103-03" Since that alert, MBS have gained back a few ticks, making things...