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: 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.

Share:
  •  Email    Link Here
  • Widgets

MBS RECAP: Bonds Fight To Remain in Ultra-Narrow Range
Oct 1 2020, 3:52PM

Yesterday presented a short-term, small scale threat to the bond market's happy little range.  Today's strength has done a good job of minimizing that threat and reinforcing the range.   

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

  • Jobless Claims 837k vs 850k f'cast, 873k prev

  • Core PCE Inflation 1.6 vs 1.4 f'cast, 1.4 prev

  • ISM Manufacturing 55.4 vs 56.3 f'cast, 56.0 prev

Market Movement Recap
08:46 AM

Bonds were gradually weaker overnight and stocks were gradually stronger.  The 8:20am CME open brought out more sellers, and while stronger econ data at 8:30am may not be hurting as much as it may seem, it's definitely not helping.  10yr is up almost 3bps at .714 and 2.0 UMBS are down an eighth of a point on the day.

11:45 AM

AM weakness continued into the 9:30am NYSE open before stock losses helped bonds recover.  Weaker ISM data didn't hurt.  Downbeat stimulus headlines rounded out the bond market recovery, bringing 10s and MBS very close to unchanged on the day.

02:41 PM

Losses were fully erased heading into the PM hours and bonds have been holding on the green side of 'unchanged,' though just barely.  2.0 UMBS are up 2 ticks (0.06) at 103-14 (103.54) and 10yr yields are effectively unchanged at .683%.


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
103-15 : +0-02
Treasuries
10 YR
0.6774 : +0.0004
Pricing as of 10/1/20 3:50PMEST

Today's Reprice Alerts and Updates
A recap of Alerts and Updates provided to MBS Live subscribers.
11:28AM  :  Bonds Recover With Help From Stocks and Stimulus Headlines
8:44AM  :  Weaker Bonds, But Stronger Econ Data Only Part of The Story

Economic Calendar
Time Event Period Actual Forecast Prior
Thursday, Oct 01
8:30 Core PCE Inflation (y/y) (%)* Aug 1.6 1.4 1.3
8:30 Jobless Claims (k) w/e 837 850 870
10:00 ISM Manufacturing PMI * Sep 55.4 56.4 56.0
10:00 Construction spending (%) Aug 1.4 0.8 0.1
Friday, Oct 02
8:30 Non-farm payrolls (k)* Sep 850 1371
8:30 Unemployment rate mm (%)* Sep 8.2 8.4
10:00 Consumer Sentiment (ip) Sep 79.0 78.9
10:00 Factory orders mm (%) Aug 1.0 6.4

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 2.59%
  • |
  • Jumbo 30 Year Fixed 3.40%
MBS Prices:
  • 30YR FNMA 4.5 108-05 (-0-00)
  • |
  • 30YR FNMA 5.0 109-26 (0-01)
  • |
  • 30YR FNMA 5.5 110-24 (0-05)
Recent Housing Data:
  • Mortgage Apps 4.56%
  • |
  • Refinance Index 8.23%
  • |
  • Purchase Index -1.53%