Register or Sign in        Email This Page     Link To This Page    
Visit MND at MBA in NYC!
# of Forum Posts
 Email Alerts
Receive an Email Alert each time a story is posted to MBS Commentary.
Bottom Right Default
State Name: Texas
State Name underscore: Texas
State Name dash: Texas
State Name lower underscore: texas
State Name lower dash: texas
State Name lower: texas
State Abbreviation: TX
State Abbreviation Lower: tx
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.

  •  Email    Link Here
  • Widgets

MBS RECAP: It Could Have Been a Lot Worse
Sep 9 2020, 3:09PM

Although the bond market definitely had its own reasons to weaken last Friday, stocks have been making big enough moves to complicate things.  Simply put, we've had to wonder if bonds would be doing even worse if not for massive stock selling.  Today, we got our answer.  As a bond-bearish bonus, the 10yr auction was on the weak side as well.  All that having been said, the damage could have been a lot worse.

Econ Data / Events
Market Movement Recap
08:20 AM

Bonds were initially stronger overnight on news of a vaccine trial delay.  Yields rose gradually, tracing a similar move higher in equities futures.  10yr yields moved into negative territory in the past hour, up 0.6bps a .687.  UMBS are starting out 2 ticks lower (-0.06).

12:30 PM

Bonds turned weaker just after 10am.  Stronger stocks have contributed to the pressure, but bonds are also considering the upcoming 10yr auction as well as the uptick in corporate bond issuance.  MBS are outperforming with 2.0 coupons off their lows and now only 1 tick weaker on the day.  10yr yields are trying to hold a ceiling at .70%.

01:06 PM

Treasuries losing ground after moderately weaker 10yr auction.  Yields up 2.3bps to new highs of .705%.  UMBS 2.0 down an eighth, near the lows of 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.
UMBS 2.0
103-05 : -0-03
10 YR
0.7066 : +0.0226
Pricing as of 9/9/20 3:07PMEST

Today's Reprice Alerts and Updates
A recap of Alerts and Updates provided to MBS Live subscribers.
1:11PM  :  ALERT ISSUED: Negative Reprice Risk Remains After Weaker Treasury Auction
11:03AM  :  ALERT ISSUED: Weakest Levels of The Day; Reprice Risk Increasing

Economic Calendar
Time Event Period Actual Forecast Prior
Wednesday, Sep 09
7:00 MBA Purchase Index w/e 317.7 309.6
7:00 Mortgage Refinance Index w/e 3415.1 3316.2
13:00 10-yr Note Auction (bl)* 35
Thursday, Sep 10
8:30 Core Producer Prices YY (%)* Aug 0.3 0.3
8:30 Jobless Claims (k) w/e 846 881
10:00 Wholesale inventories mm (%) Jul -0.1 -0.1
13:00 30-Yr Bond Auction (bl) 23

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

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


Join Now or Login to Post Comments


More From MND

Mortgage Rates:
  • 30 Yr FRM 3.04%
  • |
  • 15 Yr FRM 2.67%
  • |
  • Jumbo 30 Year Fixed 3.38%
MBS Prices:
  • 30YR FNMA 4.5 108-05 (-0-00)
  • |
  • 30YR FNMA 5.0 109-17 (-0-01)
  • |
  • 30YR FNMA 5.5 110-14 (-0-22)
Recent Housing Data:
  • Mortgage Apps 6.77%
  • |
  • Refinance Index 8.83%
  • |
  • Purchase Index 3.42%