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MBS RECAP: Traders Move to Sidelines Ahead of Fed Announcement
Sep 17 2021, 4:33PM

September's big Fed announcement doesn't hit until next Wednesday, but it's not too early for markets to freak out about it a little bit.  The fear is expressed in the form of a move to the sidelines for both stocks and bonds.  In other words, both sides of the market sold off today.  Treasuries fared a bit better, and MBS fared better still (2.0 coupons only dropped an eighth of a point by 4pm).  10yr yields thought better of breaking too far above the 1.37% technical level and have been settling there in the after hours session.  Next week remains anyone's game with a range breakout being all but guaranteed. 

Econ Data / Events
Market Movement Recap
09:00 AM

Modestly weaker overnight  with selling pressure picking up as we enter the 9am hour.  10yr is up almost 3bps at 1.363 and MBS are down an eighth of a point--well below the lowest prices of the week.

01:28 PM

Bonds found footing shortly after 10am and 10yr yields have slowly worked their way back to the 1.37% technical level.  MBS are down just over an eighth of a point now after being down as much as a quarter point at the weakest levels.

04:22 PM

Healing continues as time ticks down on the trading session.  No huge changes from the last update, but MBS have improved another tick (0.03).  Volatility has been nonexistent. 


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
100-30 : -0-03
Treasuries
10 YR
1.3650 : +0.0340
Pricing as of 9/17/21 4:33PMEST

Today's Reprice Alerts and Updates
A recap of Alerts and Updates provided to MBS Live subscribers.
9:39AM  :  ALERT ISSUED: Bigger Technical Breakout; Negative Reprice Risk For Early Lenders
8:59AM  :  ALERT ISSUED: Yields Pushing Weekly Highs

Economic Calendar
Time Event Period Actual Forecast Prior
Friday, Sep 17
10:00 5yr Inflation Outlook (%) Sep 2.9 2.9
10:00 1yr Inflation Outlook (%) Sep 4.7 4.6
10:00 Consumer Sentiment Sep 71.0 72.0 70.3

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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