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MBS RECAP: Markets Back in Action, Hurrying Up and Waiting
Jan 4 2021, 4:17PM

Bonds were back in action today although you'd hardly know it based on the narrow trading range.  Stocks were much more willing to put on a show with S&P futures down 1.5% by the close.  Bonds gleaned some small benefit from that, perhaps, as 10yr Treasuries went from slightly weaker to slightly stronger during the stock sell-off.  In general though, bonds continue to wait on GA senate election results (earliest possible impact would be Thursday).

Econ Data / Events
Market Movement Recap
08:36 AM

Active trading overnight, weaker at first, but then stronger during European hours.  Slightly higher yields at the domestic open.  Biggest movers so far = corporate issuance, and overnight headlines regarding a "new South African variant" of covid (mostly impacted UK bond markets, but helped US bonds).

01:18 PM

Treasuries turned positive, albeit reluctantly with the key consideration so far being a fairly substantial decline in stocks (S&P futures down almost 2%).  10yr yields aren't even 1bp lower, however (.91%) and UMBS have only added 2 ticks (0.06).  Stocks are trying to bounce, and bond yields may be encountering some resistance. 

04:12 PM

Bond yields bottomed out in concert with stock prices just after noon.  Both have inched higher since then.  10yr Treasuries are effectively unchanged and MBS are still up just a hair.  Very ho-hum opener for 2021.

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
103-30 : +0-02
10 YR
0.9130 : +0.0010
Pricing as of 1/4/21 4:15PMEST

Today's Reprice Alerts and Updates
A recap of Alerts and Updates provided to MBS Live subscribers.
8:46AM  :  (Another) New Covid Strain Not Enough Erase Early Losses

Economic Calendar
Time Event Period Actual Forecast Prior
Monday, Jan 04
10:00 Construction spending (%) Nov 0.9 1.0 1.3
Tuesday, Jan 05
10:00 ISM Manufacturing PMI * Dec 56.6 57.5

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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Mortgage Rates:
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  • 15 Yr FRM 2.55%
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  • Jumbo 30 Year Fixed 3.18%
MBS Prices:
  • 30YR FNMA 4.5 107-28 (-0-02)
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  • 30YR FNMA 5.0 109-25 (0-01)
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  • 30YR FNMA 5.5 111-14 (0-10)
Recent Housing Data:
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  • Refinance Index 3.16%
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  • Purchase Index 1.82%