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MBS RECAP: Reasons For Both Hope and Fear In Today's Trading
Feb 8 2021, 4:03PM

Bonds have been in a consistent trend leading toward higher rates in the short term and that trend falls inside a similarly consistent up-trend in the bigger picture.  On a hopeful note, today's early strength suggests the bigger-picture trend could offer a supportive bounce in the first half of the week.  On a cautionary note, not only did bonds fail to gain much ground today, the buying was largely fueled by short covering (i.e. traders booking profits after having previously bet on rising rates).

Econ Data / Events
Market Movement Recap
08:26 AM

Bonds were expected moderately weaker after an orderly sell-off overnight.  Stimulus, stocks, and auction trepidation are easy to blame for the move.  10yr is up 2bps at 1.189% and 2.0 UMBS are down 2 ticks (.06) at 103.

11:07 AM

Bonds bouncing back as EU bond market rallies into its close.  10yr yields almost 1bp lower now at 1.162%.  UMBS 2.0 is unchanged on the day at 103-02 (103.06).

02:52 PM

US bond rally continued through the AM hours and ended as soon as the EU bond market closed.  Holding ground at just-barely-positive levels since then.  10yr down 0.9bps at 1.16% and 2.0 UMBS up 1 tick (0.03) at 103-02 (103.06).

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
103-01 : -0-01
10 YR
1.1700 : +0.0000
Pricing as of 2/8/21 4:01PMEST

Today's Reprice Alerts and Updates
A recap of Alerts and Updates provided to MBS Live subscribers.
8:51AM  :  Weaker Overnight as Stimulus, Stocks, and Auctions Weigh

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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More From MND

Mortgage Rates:
  • 30 Yr FRM 3.20%
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  • 15 Yr FRM 2.56%
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  • Jumbo 30 Year Fixed 3.12%
MBS Prices:
  • 30YR FNMA 4.5 107-04 (-0-05)
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  • 30YR FNMA 5.0 109-00 (-0-01)
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  • 30YR FNMA 5.5 109-29 (-0-03)
Recent Housing Data:
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  • Refinance Index 3.16%
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  • Purchase Index 1.82%