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MBS RECAP: Inconsequential Trading Day With Some MBS Underperformance
Aug 3 2021, 5:15PM

Today was remarkably unremarkable.  Volume and volatility were low, in general.  There were no significant economic reports.  There were no juicy market movers.  The biggest instance of drama was an afternoon slump in MBS prices (Treasuries held steady) likely a byproduct of the eviction moratorium extension (which has a marginal impact on MBS).  In total, it made for less than an eighth of a point of weakness and it is not likely to be an ongoing market mover.

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

  • Factory Orders 1.5 vs 1.0 f'cast, 2.3 prev

Market Movement Recap
09:01 AM

Flat to very slightly weaker for most of the overnight session.  Relatively light volume.  Buyers showing up with domestic hours.  10yr down 1bp at 1.17% and MBS up 1 tick (0.03).

01:32 PM

Very quiet day both in terms of volume and volatility.  Bonds ignoring stock rebound.  10yr yield still barely positive at 1.174.  UMBS 2.0 also barely positive at 102-07 (102.22).

03:45 PM

The placeholder trading session is winding down now after a small scare for MBS prices (nearly an eighth of a point of weakness after the last update, but stabilizing now).  Treasuries didn't experience the same speedbumps and are at the exact same levels (1.174).

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
102-04 : -0-03
10 YR
1.1740 : +0.0020
Pricing as of 8/3/21 5:15PMEST

Today's Reprice Alerts and Updates
A recap of Alerts and Updates provided to MBS Live subscribers.
2:38PM  :  ALERT ISSUED: MBS At Lows, But Reprice Risk is Limited

Economic Calendar
Time Event Period Actual Forecast Prior
Tuesday, Aug 03
10:00 Factory orders mm (%) Jun 1.5 1.0 1.7
Wednesday, Aug 04
7:00 MBA Purchase Index w/e 251.7
7:00 MBA Refi Index w/e 3570.4
8:15 ADP National Employment (k)* Jul 695 692
10:00 ISM N-Mfg PMI * Jul 60.5 60.1
10:00 ISM N-Mfg Bus Act * Jul 60.6 60.4

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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  • 30YR FNMA 5.0 109-24 (-0-01)
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Recent Housing Data:
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  • Purchase Index 1.82%