Treasuries were weaker overnight, and in such a way that suggested organic selling pressure. In other words, US bond markets weren't simply weaker because they were following the crowd, but of their own volition (or traders' volition as the case may be). That may sound a bit ominous, but given that it's the first day of a new month and quarter, it could simply be bit of a redistribution of buying and selling demand into the new quarter.
Whatever the case may have been, both MBS and Treasuries entered the domestic session in weaker territory, erasing about half of yesterday's gains. MBS held sideways while Treasuries weakened a bit more. The 'close-to-expected' results in the ISM Manufacturing data resulted in the final push into weaker territory and bond have been holding their ground since then. MBS are outperforming with Fannie 4.0s back to within 2 ticks of 'unchanged.'
MBS Pricing Snapshot
Pricing shown below is delayed, please note the timestamp at the bottom. Real time pricing
is available via MBS Live.
| MBS || |
96-13 : -0-07
100-16 : -0-05
103-29 : -0-03
| Treasuries || |
0.4341 : +0.0041
2.7480 : +0.0240
3.5940 : +0.0320
| Pricing as of 4/1/14 12:17PMEST |
Morning Reprice Alerts and Updates
10:09AM : ALERT ISSUED: First Move for Bond Markets is Weaker After ISM Data
9:21AM : Bond Markets Slightly Weaker Overnight and Into Domestic Session
Live Chat Featured Comments
Benjamin Biscoe : "great, encompass is down again. "
Brian Chernega : "still down from yesterday it was never 100% back up"
Benjamin Biscoe : "got an email late last night said it was restored "
Scott Lushing : "not all services work on all computers, this is a mess"
Matthew Graham : "RTRS - ISM REPORT ON U.S. MANUFACTURING SHOWS PMI AT 53.7 IN MARCH (CONSENSUS 54.0) VS 53.2 IN FEB"
Matthew Graham : "RTRS- ISM U.S. MANUFACTURING EMPLOYMENT INDEX 51.1 IN MARCH (CONSENSUS 52.8) VS 52.3 IN FEB"
Ashley Sanchez : "Anyone having luck getting loan approved fha/va or conv where after fcl/ss the 2nd mortgage is showing charge off WITH a balance and creditor WILL NOT show a zero balance on credit supplement before closing?"
Brian Chernega : "i believe the only way is a manual UW"
Ashley Sanchez : "Thanks B-C. I was hoping for a manual and there are still questions about whether or not we need a zero balance first"
Hugh W. Page : "Ashley, check public records and see what is filed for the 2nd. Maybe there is a lien release?"