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MBS RECAP: Nice Recovery But Resistance Remains
Jul 28 2020, 3:42PM

Rates were under pressure overnight with 10yr hitting the highest yields in more than 2 weeks.  Since then, bonds have surged back into stronger territory but remain more or less blocked by the same old floor. 

Econ Data / Events
Market Movement Recap
08:16 AM

Bond weakness continued during Asian hours, but reversed course in the European session.  Domestic trading is starting out just barely stronger for bonds and weaker for stocks.

09:16 AM

8:20am CME open brought buyers, plain and simple.  It wasn't huge, but it was enough for a few bps of strength in Treasuries and nearly an eighth of a point of gains in MBS.  Stocks aren't doing anything interesting yet.  No other market movers in play.  

01:02 PM

MBS were already at best levels, but Treasuries are heading back in that direction after a strong 7yr auction.  MBS up a quarter point.  10yr yield down nearly 3bps.  Stocks have been rising, but still a hair weaker on the day.

03:37 PM

Best levels of the day now, potentially benefiting from stock market losses.  10yr yields challenging the .58% floor (but not clearly breaking it).  2.0 UMBS up a quarter point at 103.125.  

MBS Pricing Snapshot
Pricing shown below is delayed, please note the timestamp at the bottom. Real time pricing is available via MBS Live.
UMBS 2.0
103-04 : +0-08
10 YR
0.5770 : -0.0320
Pricing as of 7/28/20 3:40PMEST

Today's Reprice Alerts and Updates
A recap of Alerts and Updates provided to MBS Live subscribers.
9:16AM  :  Classic Case of 8:20am CME Open Bringing Buyers For Bonds

Economic Calendar
Time Event Period Actual Forecast Prior
Tuesday, Jul 28
9:00 CaseShiller 20 yy (% ) May 3.7 4.0 4.0
10:00 Consumer confidence * Jul 92.6 94.5 98.1
13:00 7-Yr Note Auction (bl)* 44
Wednesday, Jul 29
7:00 Mortgage Refinance Index w/e 3973.3
7:00 MBA Purchase Index w/e 310.9
10:00 Pending Home Sales (%) Jun 15.0 44.3
14:00 FOMC rate decision (%)* N/A 0.125 0.125

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

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Mortgage Rates:
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  • 15 Yr FRM 2.52%
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  • Jumbo 30 Year Fixed 3.37%
MBS Prices:
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  • 30YR FNMA 5.0 110-20 (-0-02)
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  • 30YR FNMA 5.5 111-18 (0-07)
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