Wed, Sep 9 2009, 8:59 AM
Stocks mixed overnight. Hang Seng, NIKKEI, TOPIX, KOSPI lower. Shanghai, DAX, CAC, FTSE all higher. Dollar Index mostly unchanged. NYMEX crude more ex...
Wed, Sep 9 2009, 8:50 AM
It’s another day of slow economic news but, unlike yesterday, US markets are looking down, potentially ending three days of gains. Globally, European ...
Wed, Sep 9 2009, 8:27 AM
Demand for mortgage loans and refinancing surged last week, spurred by a drop in mortgage rates, an industry survey said. Purchases also saw the large...
Wed, Sep 9 2009, 5:37 PM
Except for a relatively short window of time, today was largely uneventful. Yeah, there were some fairly violent swings but those occurred in a compa...
Wed, Sep 9 2009, 3:42 PM
After a little post auction chopatility, the FN 4.5 MBS coupon has recovered and is trading back in the green. This morning I asked readers to share p...
Wed, Sep 9 2009, 3:40 PM
Rep. Barney Frank has warned loan servicers that their performance is increasing chances that cram down legislation will pass. At the same time, a Tr...
Wed, Sep 9 2009, 2:45 PM
The question is one of trust. For nine months our trade group has been lobbying Congress and the GSE's to use such a work force but the question is al...
Wed, Sep 9 2009, 1:32 PM
Despite a slow open, equity markets have been quietly climbing higher on Wednesday, helped out by a series of minor but positive headlines that are bo...
Wed, Sep 9 2009, 1:16 PM
Chopitility is a way of life after auctions. And though the charts below tell a much different story than the wider view 2-day charts, it's something...
Wed, Sep 9 2009, 1:02 PM
10 yr Auction Results
* 2.77 Bid To Cover
* High Yield 3.51
* 78% taken at high
* Indirect Bid at $ 11 bln good for 55% indirect...
Tue, Sep 8 2009, 11:44 AM
The morning content theme has centered around the notion that SUMMER IS OVER, TIME FOR MARKETS TO GET BACK TO WORK. Well, although that is indeed the ...
Tue, Sep 8 2009, 10:41 AM
Mortgage rates moved slightly higher on Friday following the release of the Employment Situation report. The increase was however not huge as the ev...
Tue, Sep 8 2009, 8:37 AM
Overseas equity markets higher overnight...SHANGHAI, HANG SENG, NIKKEI, TOPIX, KOSPI, DAX, CAC, FTSE. Dollar weaker, Oil richer, Gold over $1,000. TS...
Tue, Sep 8 2009, 8:23 AM
Extending on two days of gains before the long weekend, equity futures are looking higher on Tuesday with the benchmark S&P a full 1% up. Globally, eq...
Tue, Sep 8 2009, 5:00 PM
Anyone catch the reference to the "secret line" on Friday? I know most are eager to get out for the weekend, so by the time a closing commentary make...
Tue, Sep 8 2009, 3:37 PM
In after hours trading, the FN 4.5 has found stable ground near the middle of its 2 day range. MBS trading volume was below average today. Originator...
Tue, Sep 8 2009, 2:21 PM
Markets are moving sideways in what has been a slow day day on Wall Street. After having digested nonfarm payroll cutbacks over the long weekend, inv...
Tue, Sep 8 2009, 1:23 PM
Immediately following the auction, it would have been hard to pinpoint any significant data release simply by watching market prices for a reaction. ...
Tue, Sep 8 2009, 1:03 PM
results for auction of $38 bln of 3 yr notes
* high yield at 1.487%
* 54.6% of bids at high yield
* median yield at 1.43, right with ...
Fri, Sep 4 2009, 12:55 PM
Mortgage backed securities had a calm day yesterday, never straying far from opening levels, posting inconsequential gains by close. You could say t...
Fri, Sep 4 2009, 12:26 PM
What's good for stocks is bad for bonds. Stocks are rallying and bonds are selling. Reprices for the worse are possible. The range should still modera...
Fri, Sep 4 2009, 10:59 AM
The FN 4.5 has held a stable range after a bit of early morning volatility. Currently we are in a holding pattern right in the middle of the recent ra...
Fri, Sep 4 2009, 8:35 AM
The knee jerk reaction to the headline was a drop in stock futures and rising TSY futures. However, the market quickly changed course...stock futures ...
Fri, Sep 4 2009, 8:16 AM
The decline in July’s nonfarm payrolls was the smallest in 11 months, so the Employment Situation report for August should bring optimism to markets s...
Fri, Sep 4 2009, 5:47 PM
I'm lamenting a wasted Friday... No point in sticking around today if you were paying attention up until NFP today. Everything should have been lock...
Fri, Sep 4 2009, 4:02 PM
After bouncing off this AM's lows of 100-13 for the second time today, prices have formed a perfect triangle into the close--characteristic of so many...
Fri, Sep 4 2009, 2:40 PM
The Commission of the FHA responded this morning to an article in the Wall Street Journal that stated the agency was nearing the trigger point mandate...
Fri, Sep 4 2009, 1:44 PM
Yes it's Friday. Yes, volume is low. Yes, it's after 12:00 noon. Yes, flows at this time of day are seldom indicative of Monday's action, or at lea...
Thu, Sep 3 2009, 12:18 PM
Trading as been seasonally slow in the secondary mortgage market today. In the "to be announced" sector, mortgage originators have locked about $700 ...
Thu, Sep 3 2009, 11:00 AM
Mortgage Rates are still holding steady near summer lows after prices of mortgage backed securities rallied to summer highs yesterday. While the appre...
Thu, Sep 3 2009, 8:32 AM
Lenders will likely be defensive ahead of tomorrow's job data/long weekend ahead/market going back to work (summer session almost over!!!). Dont be su...
Thu, Sep 3 2009, 8:21 AM
Looking ahead to today, the key releases concern the labor market and consumer spending, two areas crucial to any hopes of a V-shaped recovery. So whi...
Thu, Sep 3 2009, 6:18 PM
It might seem cliche, but everything really does come down to NFP tomorrow, and by "everything," I mean the next 6 weeks... In case you missed last n...
Thu, Sep 3 2009, 6:14 PM
The Federal Reserve today reported on their weekly purchases of agency mortgage-backed securities (MBS). In the five trading days between August 27 an...
Thu, Sep 3 2009, 4:57 PM
According to Freddie Mac's Primary Mortgage Market Survey for the week ended September 3, most mortgage rates declined from the week before. Fannie M...
Thu, Sep 3 2009, 4:41 PM
Overall it has been a slow day in the rates market. Volume in TSY futures was below average. The 10yr Dec contract held a range between 117-20 and 117...
Thu, Sep 3 2009, 2:09 PM
Q: Is the MBS market doing good or bad today?
A: Yes
At the very least, you can draw on familiarity as a positive for today. Despite the signif...
Thu, Sep 3 2009, 1:10 PM
Markets are pretty much flat again, indicating most participants are playing it safe ahead of tomorrow's all important Employment Situation Report. Th...
Wed, Sep 2 2009, 12:40 PM
Low volume... Low volatility... Low expectations... Low pulse...
Seems like some the "mood" that could be inferred from the lead-in wouldn't be ...
Wed, Sep 2 2009, 10:57 AM
If stocks go higher...expect too see profit taking in the rates market. If stocks keep bouncing around flat for the day, we still might see profit tak...
Wed, Sep 2 2009, 9:24 AM
As the new administration deliberates on what the government’s role should be in securing mortgage credit across the US, a national group of real esta...
Wed, Sep 2 2009, 8:18 AM
So far this AM
* ADP employment down 298k, more than expected
* Still, we're shocked ADP is even line 1 news
* Mortgage Banker's Asso...
Wed, Sep 2 2009, 8:15 AM
Equity futures are pointing slightly higher this morning, but the gains are far from comforting considering the S&P 500 slid 2.2% yesterday, led by 5....
Wed, Sep 2 2009, 8:05 AM
A slight hurdle was hit after many weeks of increasing demand for mortgage loans and new purchases, a housing industry survey said. Even with average ...
Wed, Sep 2 2009, 6:28 PM
Generally positive, with significant downside risks in the short-term, with more uncertainty than normal... That's how I'm about to describe the outl...
Wed, Sep 2 2009, 4:21 PM
I'm not happy about putting out this alert... It's the last hour of a low volume rally day and we're seeing losses that would justify reprices for th...
Wed, Sep 2 2009, 3:26 PM
The minutes from the most recent Fed meeting are out and though no measurable response is present in MBS, at the very least, it can be said that the p...
Wed, Sep 2 2009, 3:25 PM
A new study from Columbia University involving data from 700,000 mortgage loans found that loans originated by the bank were less likely to be delinqu...
Wed, Sep 2 2009, 2:55 PM
Much like Monday, early morning weakness in the fixed income sector was followed by a rally later in the day in spite of better than expected economic...
Wed, Sep 2 2009, 1:36 PM
Stocks have gone sideways after Tuesday’s major equity sell-off. Markets hardly moved when a private jobs report failed to match expectations, while ...
