Register or Sign in        Email This Page     Link To This Page    
Visit MND at MBA in NYC!
33,878
# of User Comments
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: Bond Market Weakness Introduce Risk of In-Range Bounce
Nov 23 2020, 4:34PM

Bonds were weaker overnight following European economic data and traded sideways for the entirety of the domestic session.  The weakness introduces a small risk that yields are bouncing on the lower end of their current trend channel (a series of lower highs and lower lows leading back from the yield spike after Nov 9th's vaccine news).  This is really only a small-scale, short-term consideration unless things get a lot worse, however.  Even if that happens, there's still a chance it could be chalked up to inconsistent trading patterns that occasionally show up for this particular holiday week.

Econ Data / Events
Market Movement Recap
09:11 AM

EU bonds led Treasury yields higher overnight and those losses remain intact this AM despite a slide in EU equities.  Vaccine headlines have been cited by others, but EU PMI data looks more relevant.  No major market movers domestically (so far).  10yr yields up 2.6bps at .85%.  MBS are down an eighth of a point.

10:17 AM

Stocks gained a bit more ground and bonds lost a bit more ground after stronger Markit PMI data at 9:45am.  Stocks have since reversed back to previous levels while bonds have held near their weakest levels of the day.  MBS are down 1 more tick (0.03) for a total of 5 on the day (-0.16) and 10yr yields are up 3bps at .854.

12:42 PM

Stocks moved to their lows of the day and bonds found their footing in the 11am hour.  None of the moves have been big.  MBS are back to being down an eighth and 10yr is back at .85% (so that's less than half a bp of movement since the last update).  5yr Treasury auction coming up in 15 minutes (possible, but by no means guaranteed market mover).


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
103-19 : -0-02
Treasuries
10 YR
0.8570 : +0.0280
Pricing as of 11/23/20 4:32PMEST

Today's Reprice Alerts and Updates
A recap of Alerts and Updates provided to MBS Live subscribers.
9:11AM  :  Bonds Open Weaker, But Probably Not Due to Vaccine Headlines

MBS Live Chat Highlights
A recap of featured comments from the Live Discussion on the MBS Live Dashboard.
Matt Graham  :  "BIDEN TO NOMINATE JANET YELLEN FOR TREASURY SECRETARY, SOURCES SAY - Dow Jones News"

Economic Calendar
Time Event Period Actual Forecast Prior
Monday, Nov 23
9:45 PMI-Composite (source:Markit) * Nov 57.9 56.3
9:45 PMI-Manufacturing (Markit) * Nov 56.7 53.0 53.4
9:45 PMI-Services (Markit) * Nov 57.7 55.0 56.9
11:30 2-Yr Note Auction (bl) 56
13:00 5-Yr Note Auction (bl)* 57
Tuesday, Nov 24
9:00 CaseShiller 20 yy (% ) Sep 5.1 5.2
9:00 Monthly Home Price yy (%) Sep 8.0
9:00 Monthly Home Price mm (%) Sep 1.5
10:00 Consumer confidence * Nov 98.0 100.9
13:00 7-Yr Note Auction (bl)* 56

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 2.80%
  • |
  • 15 Yr FRM 2.30%
  • |
  • Jumbo 30 Year Fixed 3.30%
MBS Prices:
  • 30YR FNMA 4.5 108-16 (-0-02)
  • |
  • 30YR FNMA 5.0 110-15 (-0-01)
  • |
  • 30YR FNMA 5.5 111-08 (-0-01)
Recent Housing Data:
  • Mortgage Apps 1.06%
  • |
  • Refinance Index 1.40%
  • |
  • Purchase Index 1.81%