Register or Sign in        Email This Page     Link To This Page    
Visit MND at MBA in NYC!
1,270
# of Questions
Subscribe
 Email Alerts
Receive an Email Alert each time a story is posted to MBS Commentary.
-
 RSS
Bottom Right Default
State Name: Massachusetts
State Name underscore: Massachusetts
State Name dash: Massachusetts
State Name lower underscore: massachusetts
State Name lower dash: massachusetts
State Name lower: massachusetts
State Abbreviation: MA
State Abbreviation Lower: ma
Fed Minutes Today at 2pm EST
Follow the markets live as the Fed Minutes are released at 2pm EST today.
Thomson Reuters MBS Aggregations
Gain access to a powerful search engine and most accurate and timely mortgage industry originator and servicer rankings.
MBS Basics:   Part 1  |  Part 2  |  Part 3  |  Part 4  |  The Gut Flop
It's Fed Day. Are you ready?
If you've been following the MBS Commentary, you know what a big deal this afternoon could be. Markets have been preparing for it for weeks and MBS Live members have been on top of those movements every step of the way.
This afternoon, when markets are convulsing mere milliseconds after the Fed Announcement, MBS Live members will know what's going on before anyone else. The accuracy and speed of our real-time price stream and alerts is unmatched.
Here's a purchase code to take the free trial for 4 weeks with no credit card required.

Share:
  •  Email    Link Here
  • Widgets

MBS RECAP: A Small Risk in a Pile of Good News
Jul 22 2020, 3:27PM

For rates and the bond market, the news has been almost exclusively good for weeks-to-months.  Most recently, we've seen lower lows than ever and spent more time remaining in that range than any past trip to all-time lows.  In other words, we would typically expect a bounce by now.  Interestingly enough, there is a very small hint at such a bounce emerging.  While it's too soon to worry about it, it's not too soon to keep an eye on it.

Econ Data / Events
Market Movement Recap
08:33 AM

Socks and bonds yields were both slightly lower overnight.  The biggest move followed news about the closure of the Chinese consulate in Houston (yes, really).  10yr yields are down 1.9bps at .586 and 2.0 UMBS  are up 2 ticks (0.06).

10:44 AM

No detectable reaction to home sales data.  Bonds remain roughly unchanged-to-slightly-stronger.  10yr yields may be seeing some resistance at the range floor of .58%.

01:25 PM

2.0 UMBS are now up an eighth of a point on the day at 103-01 (103.03). 10yr yields are down 1.6bps at .589 and as yet unwilling to break below the .58% range boundary.  MBS outperformance followed the Fed's last bond buying operation of the day.

03:22 PM

There was a fairly quick bout of selling just after 2pm, but it has since been corrected.  It was more noticeable in MBS than Treasuries. Both lost a bit of ground but remain modestly stronger on the day.


MBS Pricing Snapshot
Pricing shown below is delayed, please note the timestamp at the bottom. Real time pricing is available via MBS Live.
MBS
UMBS 2.0
102-31 : +0-02
Treasuries
10 YR
0.5970 : -0.0100
Pricing as of 7/22/20 3:25PMEST

Today's Reprice Alerts and Updates
A recap of Alerts and Updates provided to MBS Live subscribers.
2:32PM  :  ALERT ISSUED: MBS Down a Quick Eighth of a Point
1:24PM  :  MBS Outperform After Fed Buying
10:43AM  :  Holding Modest Gains After Econ Data

About the Author

Chief Operating Officer, Mortgage News Daily / MBS Live
A former originator, Matthew began writing for Mortgage News Daily in 2007, covering a wide range of topics. Seeing a need in the marketplace, his focus increasingly shifted toward relating MBS and broader financial markets for loan originators. ... more

Other Contributors


Share:
Discuss the MBS and Mortgage Markets on Our Streaming Dashboard
Discuss MBS and Mortgage Markets with Hundreds of Loan Officers on the MBS Live Streaming Dashboard.
  »Start a Two Week Risk Free Trial


Comments

Join Now or Login to Post Comments

 

More From MND

Mortgage Rates:
  • 30 Yr FRM 3.14%
  • |
  • 15 Yr FRM 2.65%
  • |
  • Jumbo 30 Year Fixed 3.70%
MBS Prices:
  • 30YR FNMA 4.5 107-30 (0-01)
  • |
  • 30YR FNMA 5.0 109-18 (0-00)
  • |
  • 30YR FNMA 5.5 110-20 (0-03)
Recent Housing Data:
  • Mortgage Apps 6.76%
  • |
  • Refinance Index 9.13%
  • |
  • Purchase Index 1.96%