Register or Sign in        Email This Page     Link To This Page    
Visit MND at MBA in NYC!
1,829
# of Questions Answered
Subscribe
 Email Alerts
Receive an Email Alert each time a story is posted to MBS Commentary.
-
 RSS
Bottom Right Default
State Name: Connecticut
State Name underscore: Connecticut
State Name dash: Connecticut
State Name lower underscore: connecticut
State Name lower dash: connecticut
State Name lower: connecticut
State Abbreviation: CT
State Abbreviation Lower: ct
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: Some Cause For Concern, Despite The Gains
Sep 8 2020, 4:40PM

Last Friday tied August 11th as the worst day of since early June.  It was something the bond market clearly felt needed to happen (weaker stocks were little help).  The day before, however, stock selling definitely helped bonds extend their week-long rally.  Now today, we're seeing bonds finding comfort in the same misfortune. 

Econ Data / Events
  • 20min of Fed 30yr UMBS Buying 10am, 1130am (M-F) and 1pm (T-Th)

  • Nonfarm Payrolls 1.371m vs 1.4m f'cast, 1.734m prev

  • Unemployment Rate 8.4 vs 9.8 f'cast, 10.2 prev

  • Participation Rate 61.7 vs 61.4 prev

Market Movement Recap
08:20 AM

Bonds were fairly flat to start the overnight session, but gained ground in concert with another big stock sell-off.  10yr yields are down 4.5bps at .676 and 2.0 UMBS are starting the day up an eighth of a point at 103-07 (103.22).

01:06 PM

Still in stronger territory, but bond yields are rising in concert with a bounce in stocks.  3yr Treasury auction didn't help.  MBS down an eighth from highs.  10yr yields up roughly 2bps from lows.

03:43 PM

Persistent, modest weakness leaving bonds at their worst levels of the day, but still in stronger territory versus Friday's close.  10yr down 3.5bps at .689.  2.0 UMBS up 3 ticks (0.09) at 103-06 (103.19).


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
103-07 : +0-04
Treasuries
10 YR
0.6804 : -0.0426
Pricing as of 9/8/20 4:38PMEST

Today's Reprice Alerts and Updates
A recap of Alerts and Updates provided to MBS Live subscribers.
1:06PM  :  Down an Eighth From The Highs

Economic Calendar
Time Event Period Actual Forecast Prior
Tuesday, Sep 08
13:00 3-Yr Note Auction (bl) 50
Wednesday, Sep 09
7:00 MBA Purchase Index w/e 309.6
7:00 Mortgage Refinance Index w/e 3316.2
13:00 10-yr Note Auction (bl)* 35

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