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MBS RECAP: Drifty Day, Treasuries Hold Weekly Gains, MBS Underperform.
Aug 16 2021, 4:46PM

With a strong move last Friday, the bond market was able to end the week at slightly stronger levels than those seen at the end of the previous week.  This is more readily seen on the Treasury side of the market where yields were under 1.26% at the 3pm CME close versus roughly 1.30 on Friday afternoon.  MBS underperformed, ultimately returning to 'unchanged' levels in the 4pm hour even as Treasuries remined slightly stronger on the day.

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

  • NY Fed Manufacturing 18.3 vs 29.0 f'cast, 43.0 prev

Market Movement Recap
08:54 AM

Slightly stronger overnight on weakness in Asia.  Slight rebound toward weaker levels in Europe, but 10yr still down on the day (-1.6bps) at 1.267%.  MBS are up 2 ticks  or 0.06.

09:49 AM

Additional gains after the 9:30am NYSE open.  10yr down 5.3bps to 1.23% and MBS up almost a quarter point.  S&P is down half a percent on the day.

11:53 AM

Off the best levels now.  10yr back up to 1.248 after hitting 1.223% earlier.  MBS down an eighth of a point from AM highs.

03:57 PM

10yr is another bp higher and MBS are 2 ticks lower from the last update (-.19 from the intraday highs).  Trading has slowed to a trickle.  Nothing notable driving the weakness--just a general drift after AM highs.

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
101-11 : -0-01
10 YR
1.2680 : -0.0290
Pricing as of 8/16/21 4:46PMEST

Today's Reprice Alerts and Updates
A recap of Alerts and Updates provided to MBS Live subscribers.
3:56PM  :  ALERT ISSUED: MBS Down a Bit More From Highs
12:00PM  :  MBS Down an Eighth From Highs
9:32AM  :  Overnight Gains Despite European Bounce And Fed Headlines

MBS Live Chat Highlights
A recap of featured comments from the Live Discussion on the MBS Live Dashboard.
Kevin Thomas Bell  :  "I think we see from Amazon’s last earnings and consumer sentiment, higher prices are hitting a ceiling where consumers won’t spend more."
Blake Carrillo  :  "I think the housing market is beginning to show similar sentiments."

Economic Calendar
Time Event Period Actual Forecast Prior
Monday, Aug 16
0:00 Roll Date - UMBS 15YR, Ginnie Mae 15YR
8:30 NY Fed Manufacturing Aug 18.3 29.00 43.00
Tuesday, Aug 17
8:30 Retail Sales (%)* Jul -0.2 0.6
9:15 Industrial Production (%) Jul 0.5 0.4
10:00 Business Inventories (% ) Jun 0.8 0.5
10:00 NAHB housing market indx Aug 80 80

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