Tue, Sep 13 2016, 4:37 PM
If you're just getting caught up with today's bond market movements, they weren't pretty . On the scale where the worst days of mid-2013 were "10/10...
Tue, Sep 13 2016, 3:57 PM
Mortgage Rates were only slightly higher today, and in some cases were right in line with yesterday's. In fact, if you caught a lenders' rate sheet ea...
Mon, Sep 12 2016, 8:56 AM
Last week ended with heavy selling in both stocks and bonds. It was exceptionally bad for stocks (a fact that should have been a clue to all the repo...
Mon, Sep 12 2016, 4:24 PM
Heading into today, there was a lot of hype about a speech from a member of the Federal Reserve, Lael Brainard. She's not an outspoken Fed governor,...
Mon, Sep 12 2016, 3:54 PM
Mortgage Rates continued higher today. Even though the spike wasn't as severe as Friday's, we nonetheless find ourselves well into the highest levels ...
Fri, Sep 9 2016, 9:09 AM
Bond markets have recently set records when it comes to being flat and directionless. Technical studies that measure the presence and strength of a...
Fri, Sep 9 2016, 5:39 PM
Here's why financial news sucks so bad... Sorry, I said "sucks." I realize that might offend three of you, but I'm willing to alienate that half of ...
Fri, Sep 9 2016, 5:02 PM
Mortgage Rates continued sharply higher today, as financial markets quickly adjust their outlook for global monetary policy (the rate-setting and asse...
Thu, Sep 8 2016, 8:40 AM
Mario Draghi is the President of the European Central Bank (ECB). He's Europe's version of Janet Yellen, for lack of a more eloquent description. Th...
Thu, Sep 8 2016, 4:40 PM
Let's be real. Asset purchases by major central banks are effectively an allow a nce for financial markets--free money that they know will be coming ...
Thu, Sep 8 2016, 4:01 PM
Mortgage Rates bounced highe r today, bringing them back in line with the pervasive range of the past several weeks. As of yesterday, rates were techn...
Wed, Sep 7 2016, 8:49 AM
What a difference a day makes. With the recent trading range being so narrow, it didn't take much for the overall tone in bond markets to move from...
Wed, Sep 7 2016, 3:34 PM
Treasuries and MBS held steady today, consolidating yesterday's gains and playing it safe ahead of tomorrow's ECB Announcement.
There really isn't ...
Wed, Sep 7 2016, 2:30 PM
Mortgage Rates moved lower today at a slightly better pace than the recent norm. That's not saying much in the bigger picture, because "the norm" has ...
Tue, Sep 6 2016, 9:24 AM
Normally, weaker readings on nonfarm payrolls result in bond market gains. While that was initially true on Friday, in less than 30 minutes, bonds we...
Tue, Sep 6 2016, 4:35 PM
When it comes to economic data that moves bond markets, there are only a few reports that compete for the 1st-runner-up spot behind Nonfarm Payrolls...
Tue, Sep 6 2016, 4:06 PM
Mortgage Rates were in a bit of a pickle on Friday afternoon. The big jobs report had just come out slightly weaker than expected, yet rates didn't im...
Fri, Sep 2 2016, 8:30 AM
It goes against the grain of conventional summertime market wisdom, to some extent, to have so much focus on any piece of economic data as "making or ...
Fri, Sep 2 2016, 4:56 PM
Happy Labor Day weekend, everyone. Gotta close out some longs, but may jump back in on Tuesday.
Cheers, Bond Buyers
That's the short ve...
Fri, Sep 2 2016, 4:08 PM
Mortgage Rates were steady to slightly higher today, depending on the lender--a relative victory considering the potential volatility associated with ...
Thu, Sep 1 2016, 8:53 AM
NFP weeks are always a bit more robust in terms of other top shelf economic data. This typically includes one or both of the ISM reports, Chicago PMI...
Thu, Sep 1 2016, 4:16 PM
Bonds began the day in weaker territory and were approaching the highest yields of the past 2 months by mid-morning. Part of the negativity could hav...
Thu, Sep 1 2016, 2:59 PM
Mortgage Rates were slightly higher today, bringing them near their worst levels in several weeks. The caveats are twofold. First of all, the worst le...
Wed, Aug 31 2016, 9:35 AM
Who remembers asymptotes from high school? Those are the curved lines that gradually approach a certain level--getting closer and closer, but never r...
Wed, Aug 31 2016, 5:43 PM
Bonds responded generally favorably to the available economic data, which included on-target ADP jobs numbers (177 vs 175k forecast) and weaker Chicag...
Wed, Aug 31 2016, 5:13 PM
Mortgage Rates were unchanged today, ending a month without much movement in general. In fact, the most prevalently quoted conventional 30yr fixed rat...
Tue, Aug 30 2016, 9:12 AM
With bond markets having clearly consolidated heading into last week's Jackson Hole speeches and with Jackson hole ultimately NOT resulting in a a c...
Tue, Aug 30 2016, 4:24 PM
Today was very different than the past two days. Friday was one of the biggest days of selling seen during the July/August time frame and yesterday...
Tue, Aug 30 2016, 3:06 PM
Mortgage Rates did one of two things today, depending on the lender in question. Some lenders simply held in line with yesterday's latest levels (in o...
Mon, Aug 29 2016, 9:33 AM
Friday was a volatile day for markets as investors were anxiously awaiting comments from Fed Chair Yellen that might speak to the likelihood of a Fed ...
Mon, Aug 29 2016, 4:54 PM
It's one thing to HOPE that any particular selling spree in bond markets is merely the product of a few temporary events that can be easily explained ...
Mon, Aug 29 2016, 3:59 PM
Mortgage Rates were briefly at their highest levels in several weeks on Friday afternoon. This followed comments from the Fed's Jackson Hole symposium...
Fri, Aug 26 2016, 10:54 AM
Mortgage Rates were unchanged to slightly lower this morning following the much-anticipated Jackson Hole speech from Fed Chair Janet Yellen. Markets w...
Fri, Aug 26 2016, 4:31 AM
All too many lookers on--myself included--have made far too much of today's Jackson Hole speech from Fed Chair Yellen (11am ET, we're led to believe)....
Fri, Aug 26 2016, 3:01 PM
All eyes were on Yellen's 10am speech from Jackson Hole, then all eyes were closed as traders fell asleep from boredom. Yellen said nothing we didn...
Thu, Aug 25 2016, 8:34 AM
Most likely, today will just be another day in the range-bound grind for bond markets leading up to tomorrow's Jackson Hole speech from Yellen. Altho...
Thu, Aug 25 2016, 4:14 PM
As we discussed this morning, sometimes markets will take a "lead-off" ahead of a big potential market mover if there's an underlying predisposition t...
Thu, Aug 25 2016, 3:22 PM
Mortgage Rates were unchanged , yet again, keeping alive an uncanny streak of lifelessness. That COULD change tomorrow after Fed Chair Yellen's speech...
Wed, Aug 24 2016, 9:27 AM
Welcome to another episode of Extreme Boredom: Bond Market Edition.
In today's episode, bonds are pressing even further into record territory, only...
Wed, Aug 24 2016, 5:06 PM
Whether or not Yellen actually says something that moves markets on Friday is unimportant. Maybe she will. Probably she won't. Either way , we jus...
Wed, Aug 24 2016, 4:21 PM
Mortgage Rates , like most other interest rates, have seen record-setting levels of inactivity over the past 90 days. The Brexit vote in late June pus...
Tue, Aug 23 2016, 9:32 AM
To say that bonds have been range-bound recently would be an understatement. I'm running out of ways to say it, and perhaps you're running out of the...
Tue, Aug 23 2016, 4:02 PM
We might have expected a bigger movement in the wake of the colossal improvement in New Home Sales (654k vs 582k previously, 580k forecast), but bon...
Tue, Aug 23 2016, 2:07 PM
Mortgage Rates were sharply sideways today, with almost every lender offering the exact same terms as yesterday. This is part of an ongoing phenomenon...
Mon, Aug 22 2016, 9:19 AM
By the end of this week--and quite possibly for the next several weeks--you'll be tired of hearing about Jackson Hole . I know I'm already tired of ...
Mon, Aug 22 2016, 6:00 PM
I apologize for tricking you with the title. The "shocking" part was unabashed sarcasm . It's not that anyone here is clairvoyant. Certainly, we n...
Mon, Aug 22 2016, 4:14 PM
Mortgage Rates were almost imperceptibly lower today, although underlying bond markets improved more noticeably. Why would rates not be more improved ...
Fri, Aug 19 2016, 9:03 AM
Yesterday's recap signed off with the following thought: "no data on tap for tomorrow [in reference to today], the trading range should be as good a g...
Fri, Aug 19 2016, 4:10 PM
As the attached video suggests, "red happens." It really does! After all, if you were the puppet-master behind rate movement, and if you'd decided...
Fri, Aug 19 2016, 3:09 PM
Mortgage Rates moved modestly higher today , but remain in an excruciatingly narrow range in the bigger picture. Actually, there's nothing too excruci...
