Thu, Dec 4 2014, 12:56 PM
Bond markets had a volatile reaction to this morning's European Central Bank press conference. Part of the problem is that Mario Draghi was seemingly...
Thu, Dec 4 2014, 7:32 AM
Remember a few of those NFP days earlier in 2014 when bond markets ended up having a totally counterintuitive reaction? (If you don't remember, but w...
Thu, Dec 4 2014, 5:04 PM
I haven't seen many days with as many different relevant considerations for bond markets, but if you don't really care about the details, the only im...
Thu, Dec 4 2014, 3:47 PM
Mortgage rates recovered some recently lost territory today following a press conference with European Central Bank (ECB) President Mario Draghi....
Wed, Dec 3 2014, 12:33 PM
Today's economic data hasn't had much of an effect on bond markets, but with the morning activity now in the rearview, the effects look slightly more ...
Wed, Dec 3 2014, 7:32 AM
The past two weeks have been the best and worst of times when it comes to bond markets and mortgage rates. While it is always nice to go on a run to ...
Wed, Dec 3 2014, 3:21 PM
Mortgage rates moved higher today but at a gentler pace than yesterday. In fact, underlying markets managed to hold fairly close to unchanged le...
Tue, Dec 2 2014, 12:53 PM
The easiest way to facilitate a mid-day update today will be to simply copy and paste a morning update from MBS Live . Before I do that, and because...
Tue, Dec 2 2014, 7:32 AM
Bond markets love to "hide behind" seemingly important calendar events that aren't actually that important. Those events draw in more participation a...
Tue, Dec 2 2014, 5:40 PM
There have been some fairly silly suggestions floating around as to why bond markets have been taking lumps today, and they're risky because they do...
Tue, Dec 2 2014, 4:07 PM
Mortgage rates finally ended a 7-day winning streak today, moving higher for the first time since November 19th. The losses were not insignifica...
Mon, Dec 1 2014, 12:02 PM
It's been a mostly uneventful morning so far, at least for MBS. Overnight trading was generally supportive thanks to weaker PMIs abroad, Moody's cu...
Mon, Dec 1 2014, 7:32 AM
Between the healthy dose of domestic economic data, tradeflow considerations, and European Central Bank (ECB) Announcement, this week will set the ton...
Mon, Dec 1 2014, 6:19 PM
Heading into today, we knew the recent run to low rates would be a risk from a corporate issuance standpoint. The Day Ahead noted: " Last week's run ...
Mon, Dec 1 2014, 5:04 PM
Mortgage rates were exceptionally low this morning . In many cases, lenders' rate sheets were stronger than those seen early on October 15th, mak...
Fri, Nov 28 2014, 8:42 AM
I made some fantastic stuffing this year. Just like mom used to make, and probably very much like she'll make when we drive down to do the Thanksgivi...
Fri, Nov 28 2014, 1:29 PM
Mortgage rates were slightly lower today, but it was in no way indicative of the improvements seen in the mortgage-backed-securities (MBS). MBS,...
Fri, Nov 28 2014, 1:28 PM
Heading into today, it stood to reason that the normal spat of supportive, compulsory bond buying that occurs at the end of the month would have alrea...
Wed, Nov 26 2014, 12:09 PM
It might not actually be on the calendar, but in almost every way that matters, the trading day is over for bond markets. The 11:30am 7yr Treasury ...
Wed, Nov 26 2014, 7:32 AM
Today exemplifies the week as a whole. All we can do is buckle up , hope for the best, and not sweat it too much if the rally stalls.
Reason bei...
Wed, Nov 26 2014, 3:59 PM
Nothing much has changed since the mid-day commentary because bond markets had already effectively "left the building" after the 11:30am Treasury ...
Wed, Nov 26 2014, 2:47 PM
Mortgage rates moved lower again today , solidifying yesterday's tentative break back into the "high 3's" for top tier 30yr fixed rates. In fact,...
Tue, Nov 25 2014, 12:32 PM
With the increased amount of data on today's calendar, we've seen increased volatility, but it hasn't been too threatening so far. In fact, bond ma...
Tue, Nov 25 2014, 7:33 AM
Yesterday was a fairly solid day for bond markets. Although it suffered from decreased participation, there was still strong support at technical c...
Tue, Nov 25 2014, 5:16 PM
The day began in fine shape, especially in light of the stronger reading on GDP. European bond market strength remains at the heart of our ability to...
Tue, Nov 25 2014, 3:55 PM
Mortgage rates fell more today than in recent days. Positivity was fueled chiefly by European bond market strength as serious growth concerns pe...
Mon, Nov 24 2014, 12:57 PM
Meaningful inputs have been few and far between for bond markets today. With Japanese markets closed, overnight Treasury trading got off to a late st...
Mon, Nov 24 2014, 7:33 AM
Past examples of Thanksgiving weeks vary when it comes to market behavior. There's no major bias toward gains or losses and the volatility doesn't ...
Mon, Nov 24 2014, 5:15 PM
During the 3.5-day Thanksgiving week, we expect to see a lack of participation in bond markets juxtaposed with condensed data and volatility. Data ...
Mon, Nov 24 2014, 4:40 PM
Mortgage rates continue making
improvements so small and so steady that they're barely noticeable, but
they're improvements just the same. T...
Fri, Nov 21 2014, 12:50 PM
Overnight events amounted to nothing more than noise for US bond markets. Tough talk from European Central Bank President Mario Draghi did more to he...
Fri, Nov 21 2014, 7:30 AM
Have you ever had one of those awkward super early arrivals to an event? Did you wait in the lobby? Was the lobby even open? Did you hide the fact ...
Fri, Nov 21 2014, 5:52 PM
In the shadow of October 15th--by some measures, the most volatile day in the history of Treasury trading--everything that's followed has been exceedi...
Fri, Nov 21 2014, 5:12 PM
Mortgage rates improved again today ,
carving out another November low, albeit by only a small margin. For
some lenders, rates are officially...
Thu, Nov 20 2014, 12:20 PM
It's been a solid day for bond markets so far, with most of that solidness coming courtesy of a big correction to yesterday's European bond market w...
Thu, Nov 20 2014, 7:32 AM
Today is sorta nuts . If we listed out line items for all the European economic data, domestic economic data, Fed speakers, corporate bond issuance ...
Thu, Nov 20 2014, 5:49 PM
There was a metric ton of data on tap today, both at home and abroad. During the European session, most of the data was weaker. Given that Europe s...
Thu, Nov 20 2014, 5:00 PM
Mortgage rates improved today following
weaker economic data in Europe. That data fueled demand in bond
markets overnight, pulling US Treasu...
Wed, Nov 19 2014, 12:48 PM
There has only been one story today for domestic bond markets, and that's been European bond markets! They tanked after one of Germany's most widel...
Wed, Nov 19 2014, 7:25 AM
In the October 29th policy statement, the Fed said " market-based measures of inflation compensation have declined somewhat" which is a reference to ...
Wed, Nov 19 2014, 5:18 PM
For all the potentially complicated conclusions that can follow something as wordy and important as FOMC Minutes, today ended up being fairly cut and...
Wed, Nov 19 2014, 4:29 PM
Mortgage rates moved moderately higher today, bringing them back in line with some of last week's offerings but certainly not outside the recent ...
Tue, Nov 18 2014, 7:32 AM
I haven't seen much fuss made over tomorrow's FOMC Minutes yet, and that mostly makes sense. After all, asset purchases were ended at that meeting, a...
Tue, Nov 18 2014, 5:08 PM
A clearly-defined break to another record high in stocks and another huge day for corporate debt issuance presented two significant headwinds for bo...
Tue, Nov 18 2014, 3:40 PM
Mortgage rates barely budged today, but moved in the right direction on average. Several lenders were actually slightly higher in rate, but most...
Mon, Nov 17 2014, 12:41 PM
Japan's surprising poor GDP miss was the main event in the overnight session, resulting in bond market strength right out of the gate. Although Tre...
Mon, Nov 17 2014, 7:32 AM
I thought for a few minutes about this week's headline. Normally, I'd highlight the key events or considerations, but apart from Wednesday's FOMC Mi...
Mon, Nov 17 2014, 5:20 PM
If you wanted to see any significant movement in bond markets today, you had to be tuned in before 10am. Even then, most of the drama occurred right ...
Mon, Nov 17 2014, 3:42 PM
Mortgage rates moved moderately lower
again today, setting another new low for the month of November. That
said, the movement has been prima...
Fri, Nov 14 2014, 12:27 PM
This morning's Retail Sales report definitely didn't help make the case for a bond market rally. It's not that it beat expectations by much (only .3 ...
