Very little happened in the overnight session and very little has changed into the domestic trading hours. Bond markets were a bit weaker overnight and have found little reason to do much else so far today.
The only significant data today was the Pending Home Sales report which came in weaker than expected at -1.1 vs a +0.5 forecast. That said, the index value remains over 100.00 (102.7, specifically) signifying positive progress.
Bond markets made their only noticeably positive move around that time, but it had much more to do with a significant move lower in stock prices after the 9:30am opening bell. The S&P lost 8 points from 9:37 to 9:50, with only a small amount of additional movement coming after 10am.
Shortly thereafter, bonds were heading back to their previous levels. Treasuries hit their weakest point of the day just after 12:20pm, but MBS have been holding firmer by comparison. MBS are just in moderately weaker territory than Friday's latest levels while Treasuries have given up nearly half their gains.
MBS Pricing Snapshot
Pricing shown below is delayed, please note the timestamp at the bottom. Real time pricing
is available via MBS Live.
| MBS || |
98-17 : -0-02
102-11 : -0-02
105-16 : -0-02
| Treasuries || |
0.5041 : +0.0121
2.4871 : +0.0181
3.2555 : +0.0125
| Pricing as of 7/28/14 12:56PMEST |
Morning Reprice Alerts and Updates
9:18AM : Bond Markets Slightly Weaker Overnight; Holding Ground in Domestic Session
Live Chat Featured Comments
Matthew Graham : "RTRS- U.S. JUNE PENDING HOME SALES -7.3 PCT FROM JUNE 2013"
Matthew Graham : "RTRS- U.S. JUNE PENDING HOME SALES INDEX -1.1 PCT (CONSENSUS +0.5 PCT) TO 102.7 - NAR"
Matthew Graham : "RTRS- MARKIT U.S. SERVICES SECTOR FLASH PMI FOR JULY AT 61.0 (CONSENSUS 59.8) VS 61.0 IN JUNE"
Scott Valins : "Dan try Caliber"
Dan Clifton : "anyone have a wholesaler that will do a non warrantable condo other than Advancial FCU?"
Matt Hodges : "anyone noticed that Chase is buying up Correspondent jumbo... i show 2 pt margin over my next best...for what it's worth"
Scott Valins : "must mean something good is going on in res RE"
Oliver Orlicki : "Zillow just bought trulia for 3.5B in stock"