There's some inherent moral conflict in being a fan of lower mortgage rates. No sane person wishes for the sort of strife surrounding the Russia/Ukraine situation, yet that strife is unquestionably helping rates. In this case, you don't have to feel guilty about wishing for more of it, because it's simply here, and not likely to meaningfully reverse course until after this weekend's referendum in Crimea.
The tough talk over that referendum was the catalyst for Thursday's strong move toward lower rates. Domestic economic data fell mostly to the wayside, though it didn't really make too much of a suggestion for rates to move higher or lower.
The same phenomenon is possible today with only Consumer Sentiment and PPI on the calendar. Additionally, Fed Vice Chair nominee Stanley Fischer will speak at 9:45am, but Fed policy isn't currently the burning issue of debate that it was mere months ago.
Headlines and developments surrounding Ukraine are likely, and sorting through them could be confusing enough to promote some volatility into the weekend. Bond markets have undergone increasingly abrupt changes in momentum after January. The baseline scenario heading into the weekend is for Ukraine-related uncertainty to keep pumping positivity into rates markets, but IF we happen to get some news that counteracts that, we're more vulnerable than normal to a quick move in the other direction.
MBS Pricing Snapshot
Pricing shown below is delayed, please note the timestamp at the bottom. Real time pricing
is available via MBS Live.
| MBS || |
97-03 : +0-00
101-08 : +0-00
104-17 : +0-00
| Treasuries || |
0.3424 : +0.0004
2.6418 : -0.0112
3.5830 : -0.0180
| Pricing as of 3/14/14 8:00AMEST |