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MBS RECAP: Bonds Confirm The Breakout, But There Are 2 Ways to Play It
Sep 2 2020, 3:40PM

Today offers firm confirmation of the range breakout we'd been hoping to see this week.  These sorts of breakouts are positive signals in the bigger picture, but risk-averse rate watchers can use them as early warning signs for short-term shifts.  Today's video discusses this in greater detail.

Econ Data / Events
Market Movement Recap
08:16 AM

Bonds were modestly weaker overnight, but domestic buyers got an early start around 6:30am.  With another slight boost from weak ADP data, Treasuries just turned positive and MBS are effectively unchanged.

11:03 AM

Gains extending a bit now, with more friendly Fed-speak, this time from Williams.  10yr yields down 1.6bps on the day to .66% and 2.0 UMBS up 2 ticks (0.06) at 103-11 (103.34).

01:28 PM

Comments from Fed speakers have generally been supportive.  Bonds hit their best levels just before noon and have pulled back a bit since then.  The bounce coincides with stock market strength.  10yr yields still down 2.3bps on the day at .649.  UMBS 2.0 still up 2 ticks (0.06) at 103-11 (103.34).

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
103-11 : +0-01
10 YR
0.6542 : -0.0168
Pricing as of 9/2/20 3:38PMEST

Today's Reprice Alerts and Updates
A recap of Alerts and Updates provided to MBS Live subscribers.
8:31AM  :  Bonds Briefly Turn Positive After ADP Data

Economic Calendar
Time Event Period Actual Forecast Prior
Wednesday, Sep 02
7:00 MBA Purchase Index w/e 309.6 310.2
7:00 Mortgage Refinance Index w/e 3316.2 3423.0
8:15 ADP National Employment (k)* Aug 428 950 167

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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More From MND

Mortgage Rates:
  • 30 Yr FRM 3.04%
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  • 15 Yr FRM 2.65%
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  • Jumbo 30 Year Fixed 3.45%
MBS Prices:
  • 30YR FNMA 4.5 108-06 (-0-00)
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  • 30YR FNMA 5.0 109-19 (-0-01)
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  • 30YR FNMA 5.5 111-00 (-0-04)
Recent Housing Data:
  • Mortgage Apps -2.51%
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  • Refinance Index -3.68%
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  • Purchase Index -0.47%