MBS may not be quite as high as they were yesterday, but in the bigger picture, today's levels are right in line with the best we've seen in more than 3 years. More importantly, mortgage rates are verifiably at the best levels in more than 3 years. There was no major volatility or any remarkable econ data. Tomorrow's calendar is similarly quiet. Stock/bond correlations broke down in the afternoon, but as bonds search for any sources of guidance, that correlation could certainly return if stocks are making bigger moves.
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- ADP Weekly Payrolls
- 12.75k vs 10.25k prev
- Case Shiller Home Prices-20 y/y (Dec)
- 1.4% vs 1.4% f'cast, 1.4% prev
- CaseShiller 20 mm nsa (Dec)
- -0.1% vs -- f'cast, 0% prev
- FHFA Home Price Index m/m (Dec)
- 0.1% vs 0.3% f'cast, 0.6% prev
- FHFA Home Prices y/y (Dec)
- 1.8% vs -- f'cast, 1.9% prev
- Consumer Confidence
- 91.2 vs 87.0 f'cast, 89.0 prev
- ADP Weekly Payrolls
Mostly flat overnight and not much movement so far. MBS down 1 tick (.03) and 10yr up 0.8bps at 4.04
Modest recover after AM weakness. MBS down 1 tick (.03) again after being down 3 ticks (.09) at 10am. 10yr down 0.3bps at 4.030
Losing ground modestly into PM. MBS down 2 ticks (.06) and 10yr up half a bp at 4.038
MBS Market Alerts
