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MBS RECAP: Super Sideways Ahead of Retail Sales
Apr 14 2021, 4:44PM

Retail Sales used to be a big ticket report, but like so many others, has been punching well below its weight post-covid.  That will change at some point.  We could see vague hints of that change as early as tomorrow.  Either way, those mere hints would be more exciting than anything that happened today.  

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

  • Import Prices 1.2 vs 1.0 f'cast
    Export Prices 2.1 vs 1.0 f'cast

Market Movement Recap
08:31 AM

Calm, quiet overnight session.  Minimal movement in Treasuries.  Modest weakness.  10yr yields up 1.2bps at 1.632 and UMBS are perfectly unchanged.

12:13 PM

Modest additional weakness for Treasuries, mostly dragged higher in yield by sharper weakness in European bonds.  Technicals and corporate issuance are also factors.  10yr up 2.3bps at 1.643.  MBS outperforming, and holding onto nearly unchanged levels.

02:44 PM

Still treading water heading into the 3pm CME close.  10yr yields haven't gone any higher than they were before noon.  MBS are flirting with lows, but are only down 1 tick on the day currently (-0.03).

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 3.18%
  • |
  • 15 Yr FRM 2.57%
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  • Jumbo 30 Year Fixed 3.14%
MBS Prices:
  • 30YR FNMA 4.5 108-02 (-0-05)
  • |
  • 30YR FNMA 5.0 109-26 (-0-10)
  • |
  • 30YR FNMA 5.5 111-24 (-0-05)
Recent Housing Data:
  • Mortgage Apps 2.79%
  • |
  • Refinance Index 3.16%
  • |
  • Purchase Index 1.82%