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MBS RECAP: Bonds Add to Case For Stability
Nov 18 2021, 3:31PM

Bonds put in a solid enough performance on Thursday with 10yr yields almost perfectly unchanged by the 3pm CME close.  MBS outperformed, but not by enough to require investigation or explanation.  The morning's economic data was mixed, with a surprisingly strong Philly Fed survey producing a brief, negative reaction in bonds.  After that, yields fell with stocks at the 930am NYSE open and stayed flat after 11am.  In the bigger picture, today's ho-hum performance helps reiterate a case for support after a  quick move up from 1.41 to 1.65 (10yr yield) over the past 2 weeks.

Econ Data / Events
  • Fed MBS Buying 10am, 11:30am, 1pm

  • Jobless Claims 268k vs 260k f'cast, 269k prev

  • Philly Fed Index 39.0 vs 24.0 f'cast, 23.8 prev

Market Movement Recap
08:49 AM

Another quiet overnight session.  Flat in Asia then modestly weaker in Europe.  No major impact from data.  10yr up 1.6 bps at 1.601 and MBS down 2 ticks (0.06).

10:44 AM

Nice bounce starting at 9:30, lining up with losses in the stock market.  10yr was briefly positive on the day, but bounced back up to +0.4bps at 1.589.  MBS are up 1 tick (0.03).

02:27 PM

Very flat since 11am.  10yr perfectly unchanged at 1.585 and MBS up 2 ticks (0.06).

MBS Pricing Snapshot
Pricing shown below is delayed, please note the timestamp at the bottom. Real time pricing is available via MBS Live.
UMBS 2.5
102-12 : +0-02
10 YR
1.5890 : -0.0150
Pricing as of 11/18/21 3:31PMEST

Today's Reprice Alerts and Updates
A recap of Alerts and Updates provided to MBS Live subscribers.
8:56AM  :  Modestly Weaker Before and After Data

Economic Calendar
Time Event Period Actual Forecast Prior
Thursday, Nov 18
8:30 Philly Fed Business Index * Nov 39.0 24.0 23.8
8:30 Jobless Claims (k) w/e 268 260 267
8:30 Continued Claims (ml) w/e 2.080 2.120 2.160
10:00 Leading index chg mm (%) Oct +0.9 0.8 0.2

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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