Tue, Jan 18 2011, 4:20 PM
A recap of MND microposts and featured comments from MBSonMND's live market discussion .
Fri, Jan 14 2011, 11:17 AM
Following the 9:55am consumer sentiment report, MBS FNCL 4.5's are holding near highs at 102-25 while benchmark 10's continue to grind into their own ...
Fri, Jan 14 2011, 9:00 AM
The great margin squeeze of 2011 is coming for consumers and producers.
Fri, Jan 14 2011, 8:22 AM
On this Friday before a long holiday weekend, both interest rate prices and equity futures are trading lower on news that China will lift bank reserve...
Fri, Jan 14 2011, 5:36 PM
So many things about the bond market are suggesting it has no pulse at the moment. But in an extreme paradox, this is perhaps the most exciting thing...
Fri, Jan 14 2011, 4:30 PM
In the world of mortgage rates there are varying degrees of opportunity, all of which are dependent on your wants and needs. The last time mortgage ra...
Fri, Jan 14 2011, 4:17 PM
The STEADINESS and calm, methodical march higher in yield this afternoon is unnerving. No short/medium/long term technicals are shifting, and volume i...
Fri, Jan 14 2011, 2:03 PM
Unfortunately the defensive nature we expected to see heading into this rates rally is becoming more obvious as we inch closer to the long weekend ahe...
Thu, Jan 13 2011, 11:21 AM
Liquidity is thin and price volatility has picked up this morning after yesterday's well-attended 10yr TSY note auction. There are all sorts of factor...
Thu, Jan 13 2011, 10:40 AM
Liquidity is thin and price volatility has picked up this morning after yesterday's well-attended 10yr TSY note auction. There are all sorts of facto...
Thu, Jan 13 2011, 8:22 AM
Benchmark interest rates are largely unchanged as are equity futures this morning ahead of a rush of data and events.
Thu, Jan 13 2011, 4:17 PM
As expected, considerations surrounding auctions have dominated momentum this week. Friday will now take it's turn with the final say. It's unlikely t...
Thu, Jan 13 2011, 2:21 PM
It's been a good week so far, with an acceptable amount of validation of the post-NFP range. If pre-NFP weakness isn't retraced tomorrow, it's anothe...
Wed, Jan 12 2011, 12:26 PM
With about an hour left before the auction, and with most of the recent movement in treasuries adhering rigidly to a defined technical framework, let'...
Wed, Jan 12 2011, 11:16 AM
As stocks have crept into their highest levels of the morning, bonds are at their weakest levels with the 10yr now above 3.41 and FNCL 4.5's at 101-31...
Wed, Jan 12 2011, 8:27 AM
Benchmark interest rates backed up overnight as equity futures approached their highest levels since September 2008. This move is built on improved i...
Wed, Jan 12 2011, 5:43 PM
Classic pivot move.... Knock on one side of the door, leave the house, knock on the other side, move on... Let's just hope that "moving on" is the gam...
Wed, Jan 12 2011, 4:53 PM
Treasury auctions have been the bond market's main source of motivation this week. Generally these Treasury auctions exert added pressure on mortgage ...
Wed, Jan 12 2011, 4:19 PM
After 10yr yields hit a resistance bounce at the bottom of their recent trend channel higher in yield, they subsequently broke lower and returned to t...
Wed, Jan 12 2011, 2:39 PM
PRODUCER MARGIN SQUEEZE STEALS WAGE RATE HIKES : The cost of
production inputs continues to rise and while a few districts noted
selective attempt...
Wed, Jan 12 2011, 1:13 PM
Buy side demand was strong even though direct bidder participation was a bit weaker than usual, indirects more than made up for missing demand. Tradi...
Tue, Jan 11 2011, 11:41 AM
In typical pre-auction fashion, bond traders are selling short benchmark TSYs in an effort to cheapen up their debt underwriting costs. While producti...
Tue, Jan 11 2011, 11:15 AM
10 minute totals in treasury futures shortly after 10am rose to surpass yesterdays highest readings, indicating volume is returning to the market and ...
Tue, Jan 11 2011, 7:50 AM
Equity futures are on the rise and interest rates are backing up a bit after news hit wires that Japan is planning to buy European debt in an effort t...
Tue, Jan 11 2011, 4:33 PM
It was an interesting day for mortgage rates. Benchmark Treasury yields rose and MBS prices fell which forced lenders to reprice for the worse. Howeve...
Tue, Jan 11 2011, 4:16 PM
January delivery Fannie and Freddie 30 year fixed MBS coupon have begun the settlement process and it will soon look like MBS prices just plummeted (m...
Tue, Jan 11 2011, 3:23 PM
You won't notice the effects tomorrow. Lenders have been building loan pricing based on the February coupon for several weeks already. Lenders must ...
Tue, Jan 11 2011, 1:08 PM
In terms of the non-dealer bid (directs and indirects), this is the third consecutive 3-year note auction where dealer participation has declined and ...
Mon, Jan 10 2011, 11:22 AM
Reuters notes that the Fed will begin consolidating CUSIPS (tracking numbers on MBS) in it's portfolio from 44,000 to less than 10,000, citing adminis...
Mon, Jan 10 2011, 8:10 AM
No new data hits the market today, but later in the week we’ll see retail sales, two inflation reports, the trade balance, a preliminary consumer sent...
Mon, Jan 10 2011, 6:25 PM
Mortgage rates were generally slightly improved today versus Friday today. The employment data that has been so prevalent in our discussions of late ...
Mon, Jan 10 2011, 4:56 PM
Morning price action was supportive of an extension of Friday's data-driven interest rate rally. The move was uneventful and uninspiring though...
Mon, Jan 10 2011, 4:18 PM
After the 3pm bond market close, 10yr yields have diverged from stocks as both markets make gains (yields down in bonds as stock indices move higher)....
Mon, Jan 10 2011, 1:54 PM
It's turning into a sideways, low volume afternoon. With Japan out today, zero data, and TSY auctions to come still this week, there is little motiv...
Fri, Jan 7 2011, 10:34 AM
Price action has been encouraging so far today, but the rally has not ventured outside the range we discussed last night. With 10s approaching 3.30% w...
Fri, Jan 7 2011, 8:30 AM
The December Employment Situation Report has been released. The market is digesting two diverging headlines.
Fri, Jan 7 2011, 8:21 AM
Benchmark Treasury yields are a few bps higher and equity futures are slightly improved as investors wait for the December nonfarm payrolls employment...
Fri, Jan 7 2011, 5:28 PM
Clearly the Household Survey paints a much different picture of reality than the Establishment Survey. Wall Street tends to focus on the growth implie...
Fri, Jan 7 2011, 5:19 PM
Today was an excellent and necessary victory for folks hoping for stable or falling mortgage rates. But the fight is far from over. Getting by this re...
Thu, Jan 6 2011, 11:17 AM
10yr yields are once again knocking on the door at 3.4287, remember they need to make it past 3.42 to confirm!
Thu, Jan 6 2011, 9:48 AM
The market has become more optimistic for Friday’s non-farm payrolls report since Wednesday’s ADP survey tripled expectations by showing a private pay...
Thu, Jan 6 2011, 7:12 PM
Well folks, here we are in the evening hours of Thursday on a week where much has been made of tomorrow morning's employment report (which I'll refer ...
Thu, Jan 6 2011, 5:48 PM
A Reuters poll showed they now foresee the U.S. added 175,000 jobs last month, up from 140,000 before the ADP number was released. Last month’s figure...
Thu, Jan 6 2011, 4:17 PM
3.42+ continues to turn away rising yields as we tick into the less liquid after hours part of the day. The ability of benchmark treasuries to hold su...
Wed, Jan 5 2011, 11:23 AM
The case is not necessarily closed, but so far this support zone has held up admirably with a few bounces off the the high side closer to 3.43 and ple...
Wed, Jan 5 2011, 9:21 AM
The Employment Situation Report prints on Friday. This data has been our focus for the last two weeks. Why?
Wed, Jan 5 2011, 8:37 AM
The Fed seemed to soothe bond buyers yesterday with generally dovish FOMC Minutes. Dovish = low inflation, low interest rate environment. While the un...
Wed, Jan 5 2011, 8:10 AM
Equity futures are lower and bonds are better on Wednesday morning as investors await key indicators on employment and the services industry.
Wed, Jan 5 2011, 6:16 PM
Yesterday, we wrote "the release of the ADP Employment Report in the morning could provide some directional guidance because that data tends to be a p...
Wed, Jan 5 2011, 4:15 PM
Supposedly strong JOBS DATA was the culprit behind today's forced liquidation of post 7-year note auction longs and the ultimate retest of 3.50% (prof...
