Fri, Jul 10 2015, 1:41 PM
To many, Greece is the boy who cried wolf when it comes to negotiating reforms in exchange for aid from its Eurozone creditors. So when the week be...
Thu, Jul 9 2015, 12:34 PM
Domestic bond markets have taken part in a choppy, volatile, but reasonably strong move away from risk every day so far in July. That means rates hav...
Thu, Jul 9 2015, 7:32 AM
There's very little left on the domestic calendar this week in terms of economic data. Today brings only Jobless Claims in the morning and the 30yr...
Thu, Jul 9 2015, 6:57 PM
Mortgage rates rose fairly quickly
today, ending the best 4-day winning streak since early March. On a
positive note, this only takes us bac...
Thu, Jul 9 2015, 6:51 PM
The easiest promise to make for 2015 has been that of volatility . It's not the worst we've ever seen, but it continues at a healthy pace in terms o...
Wed, Jul 8 2015, 7:33 AM
Bond market volatility (and indeed market volatility in general) continue to be a hallmark of 2015. This has been a common theme in financial news ...
Wed, Jul 8 2015, 6:59 PM
Mortgage rates moved lower at a healthy pace today, ultimately hitting the best levels in just over a month. It was the 4th straight day of impr...
Wed, Jul 8 2015, 6:52 PM
Treasuries began the overnight session moving lower in yield with Asian equities markets once again selling-off. Shortly after Europe came online, th...
Wed, Jul 8 2015, 1:01 PM
Today's NYSE outage is all anyone can talk about at the moment, but markets haven't really paid it much attention. Keep in mind that a majority of ...
Tue, Jul 7 2015, 7:33 AM
It's a tricky, deceptive, and interesting time to be watching or trading financial markets, let alone merely discussing them with friends, colleagues,...
Tue, Jul 7 2015, 5:37 PM
Mortgage rates put in a more mixed performance today, owing to volatility in underlying markets. The day began well, following overnight improve...
Tue, Jul 7 2015, 5:33 PM
The day began well for bond markets, led lower in yield by a sharp sell-off in the Euro currency overnight (lowest levels since June 1st). Other gl...
Tue, Jul 7 2015, 1:14 PM
Whether it's Greece, China, commodities, wages, stock market corrections, or the Fed's rate hike outlook, global markets are moving away from risk so ...
Mon, Jul 6 2015, 12:37 PM
Treasuries have safe haven appeal on a global scale. This is frequently seen when Asian markets are open for the first few hours of each trading day ...
Mon, Jul 6 2015, 7:33 AM
Greece held their referendum over the weekend on whether to accept the most recent batch of reform proposals form Eurozone creditors, despite those ...
Mon, Jul 6 2015, 7:13 PM
MBS and Treasuries improved at a healthy clip today, and almost exclusively due to the referendum in Greece over the weekend. The opening yields in...
Mon, Jul 6 2015, 5:58 PM
Mortgage rates moved lower with more conviction to begin the week as global markets reacted to weekend events in Europe. Specifically, Greece ...
Thu, Jul 2 2015, 11:39 AM
Bond markets came into the domestic session in markedly weaker territory, but not for any overt reason. Yields merely drifted defensively higher ahea...
Thu, Jul 2 2015, 7:33 AM
With markets closed tomorrow, NFP (the nonfarm payrolls component of the employment situation report) arrives a day early today, and despite all the f...
Thu, Jul 2 2015, 5:22 PM
Mortgage rates made an anti-climactic move lower today after the big jobs report proved slightly disappointing to markets. Stocks and bond yie...
Thu, Jul 2 2015, 5:18 PM
As far as days with big initial reactions to economic data go, today was about as boring as they come. The first part of the problem was the overnigh...
Wed, Jul 1 2015, 11:52 AM
Greece's chief export these days is red herring . More of them hit the market overnight as Tsipras allegedly sent a letter saying he agreed to almos...
Wed, Jul 1 2015, 7:33 AM
Yesterday saw a fairly noticeable swoop lower in bond prices (higher in yields) at the 3pm CME bond pit close. While we live in an increasingly ele...
Wed, Jul 1 2015, 5:39 PM
Mortgage rates gave up recently-enjoyed gains today. This brings them to the week's highest levels (and the 3rd highest in 2015) a day before th...
Wed, Jul 1 2015, 5:39 PM
The last two days were nice while they lasted , but today's trading levels are right back in line with most of last week. In other words, bonds sold...
Tue, Jun 30 2015, 11:48 AM
Although MBS are just barely into positive territory and Treasuries are just now getting back to unchanged levels after morning weakness, today is abo...
Tue, Jun 30 2015, 7:34 AM
It's a big day for Greece.
No, not today, when the country will 'default' on it's €1.7 bln payment to the IMF. No, not July 5th when the Greek pe...
Tue, Jun 30 2015, 4:10 PM
Mortgage rates had their 2nd straight day of improvements today--something that's been uncommon since the beginning of May. Additionally, the ...
Tue, Jun 30 2015, 4:10 PM
European and US headlines did their rendition of 'dueling banjos' this afternoon. On the European side, we had potentially fake news out of a country...
Mon, Jun 29 2015, 5:31 PM
Mortgage rates spiked to the highest levels of the year on Friday after hovering close to them for several days. But news out of Europe over the...
Mon, Jun 29 2015, 5:31 PM
Nothing like some good, old-fashioned 'stock lever' to restore one's faith in classic market paradigms. That's the one where traders " sell stocks, b...
Mon, Jun 29 2015, 2:20 PM
The early morning hours for US bond markets were somewhat disheartening as gains steadily evaporated into the 10am hour. Up until that point, it look...
Mon, Jun 29 2015, 1:51 AM
After falling abruptly from June highs near 1.14 at the start of last week, the Euro currency finished Friday under 1.12. Visually and actually, the ...
Fri, Jun 26 2015, 11:14 AM
The trend continues to be unfriendly this morning. Markets are defending against the possibility that the weekend brings a Greek debt deal. Headline...
Fri, Jun 26 2015, 7:33 AM
With bond markets unable to break back into May's trading range last week and now unable to break into last week's range this week, things aren't l...
Fri, Jun 26 2015, 5:22 PM
Mortgage rates were already hovering near 2015 highs as of yesterday. Today's spike sent them easily above the previous annual high , set on Ju...
Fri, Jun 26 2015, 5:13 PM
Paradoxically, US bond markets sold off (read: rates went higher) much more sharply than European bond markets today. That will certainly make no sen...
Thu, Jun 25 2015, 12:26 PM
At present, we mustn't try to force rate movement into historically reliable cause-and-effect equations. All we know is the answer and several of t...
Thu, Jun 25 2015, 7:33 AM
I realize that by including Greece in a headline that I'm not really helping the issue that I'm about to complain about (again), but perhaps the headl...
Thu, Jun 25 2015, 5:56 PM
Mortgage rates remained near recent highs for
a 2nd straight day after rising quickly on the first two days of the
week. With the exceptio...
Thu, Jun 25 2015, 5:45 PM
Bond markets moved back toward the higher end of their recent yield range today--and indeed, the highest pivot point in 2015. 10yr yields have only b...
Wed, Jun 24 2015, 12:55 PM
For all intents and purposes, only 2 things have happened for bond markets this week. Yields rose quickly on Monday and have moved sideways since the...
Wed, Jun 24 2015, 7:33 AM
We can talk about minutia or we can talk about the big picture . Minute details vary as far as their suggested impact on bond market momentum. In...
Wed, Jun 24 2015, 5:54 PM
It was a fairly boring day for bond markets both at home and abroad. This, despite headlines surrounding the Greek debt situation that seemingly sugg...
Wed, Jun 24 2015, 5:17 PM
Mortgage rates barely budged in most cases today. Some lenders were just slightly better. Others were worse. The average rate quote is unchang...
Tue, Jun 23 2015, 8:29 PM
Bond markets continued pushing back toward recent long-term high yields today, and without any overt motivation. The overnight session saw European b...
Tue, Jun 23 2015, 7:33 AM
When I think back to 2012--the last time that global financial markets were battling back from European systemic risk drama--I remember feeling less a...
Tue, Jun 23 2015, 4:24 PM
Mortgage rates , true to recent form, can't catch a break . Just when we think we might be seeing a glimmer of hope, we're treated to several days...
Tue, Jun 23 2015, 1:13 PM
The overnight hours were unkind to Treasuries, and paradoxically so. Although European yields did begin the day moderately higher, they quickly fell ...
Mon, Jun 22 2015, 12:24 PM
As expected, this week is already seeing a surge in deal-making headlines surrounding Greece . Depending on which headline you like, you mike be con...
