Technically, MBS and Treasuries are both in positive territory when compared to yesterday's closing levels. That said, those closing levels were the weakest of the day, arriving only after a somewhat sharp afternoon sell-off.
For practical purposes, MBS and Treasuries are holding their ground near yesterday's weakest levels. They had been staging a stronger bounce back until the morning's second round of economic data had its say.
Consumer Confidence came in at 85.2 vs 83.5. That may have been good enough for a small amount of bond market weakness, but New Home Sales is the bigger story. May New Home Sales rose at the quickest pace in 22 years, and at 504k, significantly beat the forecast of 440k.
10yr yields rose a quick 2bps after that news and Fannie 3.5s dropped 5 ticks just as quickly. Refreshingly, the losses stopped there and MBS have been fairly sideways since then.
MBS Pricing Snapshot
Pricing shown below is delayed, please note the timestamp at the bottom. Real time pricing
is available via MBS Live.
| MBS || |
98-03 : +0-06
102-08 : +0-04
105-17 : +0-02
| Treasuries || |
0.4767 : +0.0127
2.6062 : -0.0148
3.4244 : -0.0226
| Pricing as of 6/24/14 11:42AMEST |
Morning Reprice Alerts and Updates
10:11AM : ALERT ISSUED: Bond Markets Falling After Stronger Data; Negative Reprice Risk
9:36AM : Bond Markets Stronger Overnight; Building on Gains This Morning
Live Chat Featured Comments
Matt Hodges : "we have a big problem with lack of inventory in our MSA"
Matthew Graham : "RTRS - US MAY SINGLE-FAMILY HOME SALES +18.6 PCT, BIGGEST RISE SINCE JAN 1992, VS APRIL +3.7 PCT (PREV +6.4 PCT)"
Matthew Graham : "RTRS - US MAY SINGLE-FAMILY HOME SALES 504,000 UNIT ANN. RATE, HIGHEST SINCE MAY 2008, (CONS. 440,000) VS APRIL 425,000 UNIT RATE (PREV 433,000)"
Matthew Graham : "RTRS- US JUNE CONSUMER CONFIDENCE INDEX 85.2 (CONSENSUS 83.5) VS MAY REVISED 82.2 (PREVIOUS 83.0) - CONFERENCE BOARD"
Matthew Graham : "RTRS - US APRIL 20-METRO AREA HOME PRICES +10.8 PCT (CONSENSUS +11.6 PCT) FROM YEAR AGO -- CASE-SHILLER"
Matthew Graham : "RTRS - US APRIL NON-ADJUSTED 20-METRO AREA HOME PRICES +1.1 PCT (CONSENSUS +0.8) VS +0.9 PCT IN MARCH -S&P/CASE-SHILLER"
Matthew Graham : "RTRS- US APRIL SEASONALLY ADJUSTED HOME PRICES IN 20 METRO AREAS +0.2 PCT (CONSENSUS +0.8) VS +1.2 PCT IN MARCH- S&P/CASE-SHILLER"