Register or Sign in        Email This Page     Link To This Page    
Visit MND at MBA in NYC!
1,829
# of Questions Answered
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: Sideways and Still Waiting on Friday's Jobs Report
Jun 2 2021, 4:00PM

Today's trading lived up to the sideways promises discussed this morning.  And yes, while it is terribly cliche, "sideways ahead of the jobs report" is indeed actually the best way to view the week's trading so far.  10yr yields were less than 1bp lower by the 3pm CME close and 2.5 UMBS coupons were perfectly unchanged.  On a slightly bullish note, 10yr yields found support at 1.62%, but we should have no doubts about the fragility of that ceiling in the event of a super strong payrolls print on Friday.

Econ Data / Events
Market Movement Recap
08:29 AM

Bonds recover slightly in low overnight volume and light volatility.  1.62% technical level offered a supportive ceiling and 10yr yields are starting half a bp lower at 1.601.  2.5 UMBS are up 1 tick at 103-19 (103.59) 

12:15 PM

Modest additional gains for Treasuries with 10yr now down 2bps at 1.587%.  MBS have lost a bit of ground, however, now back to unchanged on the day at 103-18 (103.56).

03:49 PM

MBS remain unchanged and 10yr yields are closer to unchanged than they were a few hours ago (down just over 1bp at 1.594).  Despite several corporate bond pricings, the Fed's beige book, and a few Fed speakers, we've seen no strong correlation between events and market movement.


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 2.5
103-18 : +0-00
Treasuries
10 YR
1.5940 : -0.0210
Pricing as of 6/2/21 4:00PMEST

Today's Reprice Alerts and Updates
A recap of Alerts and Updates provided to MBS Live subscribers.
8:39AM  :  Slightly Stronger Overnight

Economic Calendar
Time Event Period Actual Forecast Prior
Wednesday, Jun 02
7:00 MBA Purchase Index w/e 261.4 269.8
7:00 MBA Refi Index w/e 3022.0 3168.8
Thursday, Jun 03
7:30 Challenger layoffs (k) May 22.913
8:15 ADP National Employment (k)* May 650 742
8:30 Labor Costs Revised (%) Q1 -0.4 -0.3
8:30 Productivity Revised (%) Q1 5.5 5.4
8:30 Jobless Claims (k) w/e 390 406
10:00 ISM N-Mfg Bus Act * May 67.2 62.7
10:00 ISM N-Mfg PMI * May 63.0 62.7

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


 

More From MND

Mortgage Rates:
  • 30 Yr FRM 3.27%
  • |
  • 15 Yr FRM 2.64%
  • |
  • Jumbo 30 Year Fixed 3.20%
MBS Prices:
  • 30YR FNMA 4.5 108-07 (0-05)
  • |
  • 30YR FNMA 5.0 109-26 (-0-07)
  • |
  • 30YR FNMA 5.5 111-24 (0-02)
Recent Housing Data:
  • Mortgage Apps 2.79%
  • |
  • Refinance Index 3.16%
  • |
  • Purchase Index 1.82%