Wed, May 14 2014, 5:31 PM
Even though mortgage rates hit multi-month lows several times in the past 2 weeks, today is significant in that Treasuries finally broke the range. S...
Wed, May 14 2014, 3:40 PM
Mortgage rates fell today
as the European Central Bank looks increasingly ready for a new round
of easing in June. More accommodative moneta...
Tue, May 13 2014, 12:00 PM
MBS and Treasuries began the day in unchanged territory. There was a bit of a positive backdrop in place from overnight news that Germany's central b...
Tue, May 13 2014, 7:54 AM
Bond markets have arguably been trading in accordance with the mainstream technical suggestions. Specifically, there are several technical studies so...
Tue, May 13 2014, 3:57 PM
Until this morning, recent momentum in bond markets was clearly and cleanly pointing to a correction within the recent range, where rates would move h...
Tue, May 13 2014, 3:22 PM
Mortgage rates
moved lower today after an especially weak report on Retail Sales
fueled demand for fixed-income investments like
mortgage-bac...
Mon, May 12 2014, 11:58 AM
It's been a slow morning so far, and utterly lacking in overt inspiration. More simply put, we haven't seen any movement in Treasuries or MBS linked ...
Mon, May 12 2014, 7:51 AM
Over the weekend, events that have been labelled by some as 'referendums' took place in several of the most embattled regions in Ukraine. Not surpris...
Mon, May 12 2014, 4:25 PM
Compared to the 9 ticks of price weakness in 10yr Treasuries (+3.1 bps), Fannie 3.5 MBS were only off 5 ticks and Fannie 4.0s just 3 ticks in the fina...
Mon, May 12 2014, 2:13 PM
Mortgage rates continued higher
today, adding to the corrective rebound from last week's 6-month lows.
There were no significant events or n...
Fri, May 9 2014, 11:58 AM
Bond markets are just slightly weaker, and have thus far been doing a decent job of keeping those losses contained. There hasn't been much by way of '...
Fri, May 9 2014, 7:42 AM
First thing's first: "mortgage rates" themselves, have clearly already broken the 2014 range, having moved into the best levels since late October o...
Fri, May 9 2014, 3:11 PM
The focus of the week for MBS and rates should be on the fact that we made it to levels not seen since the end of October 2013. With 6 out of the la...
Fri, May 9 2014, 2:02 PM
Mortgage rates
rose today, pulling back just slightly after spending 6 of the last 7
days in an aggressive move to the lowest levels in more th...
Thu, May 8 2014, 12:01 PM
Europe and the US serenaded each other this morning with a hot rendition of "Dueling Bankers." Not to be confused with dueling banjos, this song feat...
Thu, May 8 2014, 7:42 AM
Thursday is probably the most action-packed day of the week for MBS. It gets most of the way there by being a fairly action-packed day for bond marke...
Thu, May 8 2014, 4:40 PM
Right from the outset, seemingly strange things were happening as 10yr yields looked much higher on charts, yet were reported as being slightly lower ...
Thu, May 8 2014, 3:15 PM
Mortgage rates added just slightly
to yesterday's improvements, inching just a bit lower into the best
levels in more than 6 months. The bon...
Wed, May 7 2014, 12:40 PM
Bond markets have been slightly more active today both in terms of volume and volatility. Overnight trading was essentially a wash. 10yr yields were...
Wed, May 7 2014, 7:42 AM
Bond markets put in another strong day yesterday, returning to the strongest end of their respective ranges after losing just a bit of ground to start...
Wed, May 7 2014, 4:07 PM
Bond began the first few minutes of the day in slightly weaker shape, but ended the day in positive territory after Yellen's congressional testimony a...
Wed, May 7 2014, 3:15 PM
Mortgage rates continued pushing
into the lowest levels in more than 6 months after a docile
congressional testimony from Fed Chair Yellen th...
Tue, May 6 2014, 11:02 AM
So far this week, stocks and bonds have generally been moving together again after a bit of disconnection last week. Equities futures fell graduall...
Tue, May 6 2014, 8:00 AM
There was a Bloomberg article out on Sunday night that quickly made rounds in financial markets and among market watchers. It isn't 'in your face...
Tue, May 6 2014, 4:19 PM
Calmly and coolly, MBS marched to the best levels of the year this afternoon, and for no particular reason as far as today's events were concerned. ...
Tue, May 6 2014, 3:36 PM
Mortgage rates
fell back to their lowest levels of 2014, with most lenders in similar
territory to last Friday. Market movement was moderate, ...
Mon, May 5 2014, 11:45 AM
Bond markets have been fairly calm this morning, even if slightly weaker after the ISM Non-Manufacturing data (aka ISM Services). Before that, ther...
Mon, May 5 2014, 7:54 AM
Last week ended in ground-breaking fashion with bond markets clawing into positive territory despite a substantially better-than-expected Employment S...
Mon, May 5 2014, 4:15 PM
After Friday's orgiastic frenzy of bet-making and profit taking, bond markets sat back in their seats and abstained today. In poker terms, this is a ...
Mon, May 5 2014, 3:35 PM
Mortgage rates
move up just slightly today, after hitting the lowest levels in 6
months at the end of last week. Some lenders who didn't get t...
Fri, May 2 2014, 12:17 PM
This has been one of the craziest NFP mornings I can remember--probably THE single most paradoxical reaction at first glance. Granted, bond markets...
Fri, May 2 2014, 7:42 AM
Unless you're just looking at the recent behavior in interest rates for the first time in months, you're well-aware that they've been stuck in a range...
Fri, May 2 2014, 3:41 PM
In looking at yesterday's activity in bond markets, we could see some level of determination to rally regardless of the incoming economic data. The c...
Fri, May 2 2014, 2:26 PM
Mortgage rates
and many other areas of financial markets moved in shockingly
counterintuitive ways after today's big jobs report. Nonfarm payr...
Thu, May 1 2014, 12:02 PM
10yr yields had been careful to avoid dipping below yesterday's latest levels until after all of this morning's data was out of the way. Once it was,...
Thu, May 1 2014, 7:38 AM
There's no way to be excited about bond markets right now! That is, unless you want to be excited about the fact that things are making great sense...
Thu, May 1 2014, 4:03 PM
Bond markets had a great day today, but the greatness isn't entirely logical ( ironic headline choice this AM , no? ). While there was some economic...
Thu, May 1 2014, 3:12 PM
Mortgage rates fell at the fastest pace in over a month today
bringing them to their lowest levels since early February. The
motivation for ...
Wed, Apr 30 2014, 11:04 AM
The blue line is stocks; yellow is 10yr yields. When we see a chart like this on the last 2.5 days of the month-- ESPECIALLY when the recent norm has...
Wed, Apr 30 2014, 7:18 AM
As a quarterly report with monthly updates, GDP releases are slightly different from month to month. The order is: advance, preliminary, and final. ...
Wed, Apr 30 2014, 3:54 PM
Heading into the last hour of trading on this all-star day, bond markets have moved at a fairly average pace, albeit in rate-friendly directions. The...
Wed, Apr 30 2014, 3:27 PM
Mortgage rates fell at a solid pace
today following a reading on 1st Quarter GDP that was much weaker than
expected. Downbeat economic data ...
Wed, Apr 30 2014, 1:59 PM
Information received since the Federal Open Market Committee met
in March indicates that growth in economic activity has picked up
recently, after...
Tue, Apr 29 2014, 12:16 PM
The overnight session was nominally weaker for Treasuries, but there was limited activity overall as Japan (the key participant in US Treasuries durin...
Tue, Apr 29 2014, 7:48 AM
To be perfectly fair to financial markets, "things could get serious" at any moment really, it's just that the events that are more predisposed to bri...
Tue, Apr 29 2014, 3:34 PM
It was a generally quiet day for bond markets, though that wasn't destined to be the case at the open. Treasuries had weakened slightly overnight and...
Tue, Apr 29 2014, 2:23 PM
Mortgage rates were slightly higher today
as a result of bond market weakness late yesterday and again this
morning. Some of that weakness h...
Mon, Apr 28 2014, 11:47 AM
MBS are coping with the double-edged sword that is stronger housing data this morning. On the one hand, the decisive reversal of an 8-month slide in ...
Mon, Apr 28 2014, 7:39 AM
If calendar events like economic reports and monetary policy announcements end up being the impetus for bond markets to break out of their 3-Month sid...
Mon, Apr 28 2014, 3:23 PM
Bond markets were just slightly weaker overnight, with no major volatility or trading themes emerging. MBS walked in the door a bit weaker as a resul...
