By this time yesterday, MBS had already moved up 3/8ths of a point from morning lows. Activity is muted by comparison today. Movement has been in the other direction, but although prices are an eighth of a point off their highs, they're still an eighth of a point better than yesterday's latest levels.
That's somewhat positive, but in actuality, we can only say that MBS are positive versus yesterday's latest levels due to yesterday's afternoon weakness. Bottom line: prices are still in the same afternoon range from yesterday, having gone no higher than early afternoon highs or late afternoon lows.
Treasuries managed to improve on yesterday's gains just slightly, but are also back in yesterday afternoon's range. Ebbs and flows in stocks have been the key informant for bond market decisions so far. When stocks broke higher into the 11am hour, bonds moved into negative territory, but that move has since been reversed. The prospects for another down day in stocks are keeping Treasury gains alive. This won't always be the case when it comes to the relationship between stocks and bonds, but it's today's primary consideration so far.
MBS Pricing Snapshot
Pricing shown below is delayed, please note the timestamp at the bottom. Real time pricing
is available via MBS Live.
| MBS || |
97-11 : +0-06
101-13 : +0-04
104-21 : +0-04
| Treasuries || |
0.3550 : +0.0040
2.6229 : -0.0051
3.4943 : -0.0087
| Pricing as of 4/11/14 11:56AMEST |
Morning Reprice Alerts and Updates
10:59AM : ALERT ISSUED: Treasuries Turn Negative, MBS Near Lows as Stocks Rally
10:02AM : Consumer Sentiment Stronger Than Expected; Limited Reaction so Far
9:16AM : Stronger Overnight, but Sideways After PPI; Waiting for Stocks' Next Move
Live Chat Featured Comments
Jeff Anderson : "GM, all. JP Morgan Q1 originations down 68%. Who knew?"
Dan Clifton : "gm. nice to see the early morning green after hours last night was red"
Sung Kim : "We went from 2.65 to 2.61 from 6:30 to now"
Ira Selwin : "Interesting start to the day, would think we'll see those who didnt lock any day this week lock them up today"
Matthew Graham : "ok, THOMSON REUTERS/U. OF MICH CURRENT CONDITIONS INDEX PRELIM APRIL 97.1 (CONSENSUS 96.3) VS FINAL MARCH 95.7"
Matthew Graham : "THOMSON REUTERS/U. OF MICH US CONSUMER SENTIMENT PRELIM APRIL 82.6 (CONSENSUS 81.0) VS FINAL MARCH 80.0"
Matthew Graham : "THOMSON REUTERS/U. OF MICH CONSUMER SENTIMENT HIGHEST SINCE JULY"
Victor Burek : "gonna be tough holding these gains now"