Register or Sign in        Email This Page     Link To This Page    
Visit MND at MBA in NYC!
1,270
# of Questions
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: What's Up With Bonds And What Might Happen Next?
Aug 10 2021, 3:28PM

As feared and expected, the combination of Treasury auctions and a hefty slate of corporate issuance continued to weigh on bonds today.  A flat-to-slightly-stronger start quickly gave way to weakness as investors made room for corporate bonds.  A large multi-tranche deal from Intel was the worst offender.   Traders aren't eager to catch this falling knife until more of the supply is digested (that would be tomorrow at the earliest).  At that point we expect at least a few days of recovery before the trend shows its true colors.  For today, it was worth a few more bps in 10yr yields and about an eighth of a point in MBS as of 3pm ET.

Econ Data / Events
Market Movement Recap
08:38 AM

Flat to slightly stronger at first, then more sideways and choppy during EU hours despite a decent rally in EU bonds.  Starting out less than a bp lower in 10yr yields at 1.317.  UMBS 2.0 coupon up 1 tick.

10:18 AM

Selling pressure ramping up after 9:30am NYSE open, but more noticeably after 10am due to a slew of new corporate bonds hitting their "launch" phase.  10yr up 1.4bps to 1.339.  UMBS 2.0 down an eighth at 101-02 (101.06).

01:38 PM

No new weakness in Treasuries since the last update.  Modest additional weakness in MBS (new recovered).  Levels are right in line with last time.  No reaction to 3yr Treasury auction.


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 2.0
101-03 : -0-03
Treasuries
10 YR
1.3410 : +0.0240
Pricing as of 8/10/21 3:28PMEST

Today's Reprice Alerts and Updates
A recap of Alerts and Updates provided to MBS Live subscribers.
10:15AM  :  ALERT ISSUED: Negative Reprice Risk Already Increasing For Some Lenders
9:30AM  :  Decent Start With Help From Europe

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 3.16%
  • |
  • 15 Yr FRM 2.54%
  • |
  • Jumbo 30 Year Fixed 3.12%
MBS Prices:
  • 30YR FNMA 4.5 108-04 (0-00)
  • |
  • 30YR FNMA 5.0 110-01 (-0-00)
  • |
  • 30YR FNMA 5.5 111-23 (-0-01)
Recent Housing Data:
  • Mortgage Apps 2.79%
  • |
  • Refinance Index 3.16%
  • |
  • Purchase Index 1.82%