Register or Sign in        Email This Page     Link To This Page    
Visit MND at MBA in NYC!
# of Subscribers
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: Respectable Recovery After Morning Drama
Apr 9 2021, 4:40PM

"Drama" may be a bit of an overstatement, but bonds were weak enough this morning to cause some concern about the week's prevailing message (i.e. that the 2021 uptrend in rates is strongly considering taking the month off in April).  As the day progressed, yields inched back toward lower levels.  While Treasuries ultimately failed to make it back to positive territory, MBS succeeded.  The outperformance can be attributed to light MBS supply over the past 2 days as well as Treasury-specific headwinds (such as next week's condensed auction cycle). 

Econ Data / Events
  • Fed MBS Buying 10am, 1130am, 1pm

  • Core Producer Prices (y/y) 3.1 vs 2.7 f'cast, 2.5 prev

Market Movement Recap
08:44 AM

Much weaker overnight in an apparent confirmation of a sideways trend (i.e. not a rally trend).  1.62% held firm in 10yr yields.  After a big bounce there, we're up to 1.68% this morning.  MBS outperforming with 2.5 coupons down only 6 ticks (.19) to 103.00.  Inflation data delayed due to BLS website issue.

10:54 AM

Decent bounce back starting around 9am.  The move coincides with an uptick in stocks--a common refrain in recent months and one that continues to suggest money managers moving into and out of (and back into) both sides of the market.  10yr now up only 2.7bps at 1.653 and 2.5 UMBS down only 2 ticks (.06) on the day. 

01:58 PM

MBS are now nearly back to unchanged levels despite Treasury yields bouncing back toward slightly weaker levels.  2.5 UMBS are down 1 tick on the day at 103-05 (103.16) and 10yr yields are up almost 3bps at 1.655%.  

03:34 PM

Bonds shied away from a full-fledged break into positive territory as yields bounced gradually over the past 3 hours.  10yr yields are back up 3.6bps on the day at 1.662 and UMBS 2.5 coupons are down 3 ticks (0.09) after briefly turning positive on the day just before noon.

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


More From MND

Mortgage Rates:
  • 30 Yr FRM 3.01%
  • |
  • 15 Yr FRM 2.45%
  • |
  • Jumbo 30 Year Fixed 3.09%
MBS Prices:
  • 30YR FNMA 4.5 107-28 (-0-10)
  • |
  • 30YR FNMA 5.0 109-24 (-0-01)
  • |
  • 30YR FNMA 5.5 111-12 (-0-01)
Recent Housing Data:
  • Mortgage Apps 2.79%
  • |
  • Refinance Index 3.16%
  • |
  • Purchase Index 1.82%