Wed, Jan 29 2014, 9:00 AM
After reaching a boiling point in terms of volume and positivity by the end of the day on Friday, bond markets have leveled off and calmed down a bit ...
Wed, Jan 29 2014, 5:35 PM
The Fed reduced asset purchases by another $10 billion today and bond markets rallied handsomely. These two concepts have heretofore been diametrica...
Wed, Jan 29 2014, 4:36 PM
Mortgage rates moved significantly lower
today after drifting higher during the first two days of the week. As
was the case on Friday, today'...
Wed, Jan 29 2014, 2:02 PM
Information received since the Federal Open Market Committee met in
December indicates that growth in economic activity picked up in recent
quarte...
Tue, Jan 28 2014, 8:31 AM
Durable goods data for December is due at 8:30 a.m. EST while the S&P/Case-Shiller home price index for November will be released at 9:00 a.m. ET. The...
Mon, Jan 27 2014, 7:00 AM
The past two weeks have been good for bond markets, but the past two sessions specifically have been "weird good." That is, they've resulted in much ...
Mon, Jan 27 2014, 4:22 PM
2:20PM :
ALERT ISSUED:
MBS Hits Lows; Negative Reprice Risk Increasing
The Fannie Mae 4.0 coupon has just reached the lo...
Fri, Jan 24 2014, 12:05 PM
The only fashionable topic of conversation in financial markets at the moment is the global flight-to-safety. There are various root causes for this,...
Fri, Jan 24 2014, 7:00 AM
Bond markets have several new friends so far in 2014 apart from the soft employment data at the beginning of the month. One of the most reliable fr...
Fri, Jan 24 2014, 4:18 PM
China... Argentina... Emerging market currencies panicking over tapering... Overvalued stock markets "overdue for a correction..." There are plenty ...
Fri, Jan 24 2014, 3:09 PM
Mortgage rates continued a strong move lower
today, benefiting from a global sell-off in risk-related assets.
What's a risk-related asset? I...
Thu, Jan 23 2014, 12:44 PM
Less than 24 hours after trading patterns suggested a risk that bond markets were confirming a bounce against their best levels of the month, those ...
Thu, Jan 23 2014, 7:00 AM
Thursday brings the week's only dose of economic data. While none of the reports are top tier, markets may still take the opportunity to adjust the...
Thu, Jan 23 2014, 4:42 PM
Bond markets were stronger all day, with every ancillary consideration seeming to help them along. Right from the start of the overnight session, wea...
Thu, Jan 23 2014, 3:21 PM
Mortgage rates snapped
quickly lower today, matching or beating the best levels seen so far in
2014. Weakness over the past two days threatened...
Wed, Jan 22 2014, 11:56 AM
(Update: we issued an alert at 12:07pm as prices quickly slid to their lows).
Much like yesterday, bond markets were weaker overnight with Treasur...
Wed, Jan 22 2014, 7:00 AM
Although there will be economic data on Thursday, and even though there is technically some today, the week remains decidedly focused on setting up ...
Wed, Jan 22 2014, 6:10 PM
One of the recurring questions on the MBS Live Dashboard today was simply "what's up with this weakness?" Normally, there would be a logical connect...
Wed, Jan 22 2014, 3:32 PM
Mortgage rates edged
modestly higher for a second straight day, though they're still in a
lower range than most of December and early January. ...
Tue, Jan 21 2014, 11:52 AM
Bond markets were weaker overnight with yields on 10yr Treasuries rising above 2.86 early this morning. Some of the weakness was attributed to a Wall...
Tue, Jan 21 2014, 7:00 AM
Today's session is emblematic of most of the rest of the week. There is no scheduled economic data and trading is just as likely to be driven by posi...
Tue, Jan 21 2014, 4:03 PM
MBS tell a bit of sunnier story than Treasuries today as Fannie 4.0s were able to break their 2014 highs by one whole tick (1/32nd). 10yr Treasuries ...
Tue, Jan 21 2014, 2:11 PM
Mortgage rates were
slightly higher today, but remain near their best levels in more than 6
weeks. The first rate sheets of the day were notice...
Fri, Jan 17 2014, 12:09 PM
While this morning's data releases haven't been top tier market movers, we did get a bit of a head fake toward weaker territory starting just after 9a...
Fri, Jan 17 2014, 7:00 AM
September was a pretty good month for bond markets, assuming you're able to overlook the fact that it took a massive sell-off with 10yr yields hitting...
Fri, Jan 17 2014, 5:44 PM
Mortgage rates moved lower for the second day in a row, bringing
them back to the same 6-week lows seen on Monday, on average. Some
lenders...
Fri, Jan 17 2014, 5:10 PM
Most of today's movement was seen in between data releases as opposed to immediately following. In other words, Housing Starts came out this morning ...
Thu, Jan 16 2014, 12:21 PM
Both the 830am and 10am sets of economic data left MBS incrementally better off. At 830am, it was primarily the big jump in Continued Claims in the J...
Thu, Jan 16 2014, 7:00 AM
Today is by the far the busiest day of the week judging by the calendar, and not just the calendar of economic data. While that's busy enough in it...
Thu, Jan 16 2014, 4:50 PM
Bond markets had an utterly copacetic day, starting out just barely positive, gaining nominally with each round of economic data and continuing to tri...
Thu, Jan 16 2014, 3:58 PM
Mortgage rates moved lower today
preserving the pocket of recovery that formed on the heels of last
week's Employment Situation report. Every d...
Wed, Jan 15 2014, 12:08 PM
Bond markets had an exceptionally narrow, quiet overnight session with 10yr yields holding inside a 1.7bp range and hitting 8am almost perfectly in ...
Wed, Jan 15 2014, 7:00 AM
Bond markets had their first set-back yesterday in the post-NFP rally. While that rally only lasted 2 short days, it covered as much ground as any 2 ...
Wed, Jan 15 2014, 5:02 PM
Back in September, the epic corporate bond offering by Verizon (more than double the previous record!) proved to be such a factor for broader bond m...
Wed, Jan 15 2014, 4:03 PM
Mortgage rates were higher again
today, further eroding the large improvement following the weak jobs
report. On a positive note, Friday's gain...
Tue, Jan 14 2014, 12:20 PM
Bond markets have given up most of yesterday's strength so far this morning, though that's more true for Treasuries than MBS. The morning has been su...
Tue, Jan 14 2014, 7:00 AM
There are clues in yesterday's session as to where our attention should be focused in the next two weeks. There may well be clues in this morning's...
Tue, Jan 14 2014, 4:27 PM
Whereas Friday's big move higher in MBS was all about one undisputed star of the show, and whereas today's Retail Sales report had an opportunity to...
Tue, Jan 14 2014, 3:17 PM
Mortgage rates moved moderately higher today,
giving back some of the impressive gains seen since last Thursday.
Most of that improvement cam...
Mon, Jan 13 2014, 12:14 PM
Bond markets have been trading calmly and slightly stronger. That said, the strength is more in line with "follow through" from Friday morning's mo...
Mon, Jan 13 2014, 6:48 AM
Things have been less than great for bond markets since May of 2013 when sentiment in the Fixed-Income sector seemed to turn on a dime. In reality, t...
Mon, Jan 13 2014, 4:57 PM
The past few weeks have marked the first time in a long time that we've had occasion to consider the proverbial "stock lever" (the phenomenon whereb...
Mon, Jan 13 2014, 3:32 PM
Mortgage rates continued lower at a fairly brisk pace today,
extending the already impressive drop that followed Friday's employment
data. By...
Fri, Jan 10 2014, 12:50 PM
This morning's jobs report was stunningly weaker than expected, with NFP coming in at 74k vs a consensus forecast of 196k. As far as misses go, this ...
Fri, Jan 10 2014, 6:36 AM
This analysis isn't intended to extoll the virtues of ADP, but it's going to seem that way based on the objective facts offered. It's also meant to s...
Fri, Jan 10 2014, 4:36 PM
There is a disturbing lack of utter certainty when it comes to financial markets, and especially to the effect of economic data on MBS Prices. Case...
Fri, Jan 10 2014, 3:25 PM
Mortgage rates fell abruptly today ,
following a significantly weaker than expected Employment Situation
report. The data hit markets before mos...
Thu, Jan 9 2014, 12:01 PM
The day began with modest improvements, helped along by tough talk from ECB President Draghi. While the timing of the best movement seems to coinci...
Thu, Jan 9 2014, 8:30 AM
It's a somewhat cynical point of view, but what is the Thursday before Nonfarm Payrolls (NFP) if not a place-holder that can't ever come close to the ...
Thu, Jan 9 2014, 4:26 PM
Mortgage rates were sharply unchanged
today with the few better-priced lenders offset by a few others in
worse shape compared to yesterday. T...
