Wed, May 9 2012, 8:02 AM
Tuesday wasn't a good day to be MBS, at least not compared to Treasuries. We began the session with less by way of overnight improvements, gained les...
Wed, May 9 2012, 4:19 PM
MBS Live : MBS Afternoon Market Summary
This may be the last time we get to say this for a while but MBS--particularly
Fannie 3.5's--just...
Tue, May 8 2012, 11:23 AM
MBS Live : MBS Morning Market Summary
New All Time Highs For MBS!!!! Wait... It's sort of anti-climactic really. Rate sheets aren't much ...
Tue, May 8 2012, 8:40 AM
Diligent readers of this commentary might ask themselves: "I wonder if those guys know how much FLAT, DEAD, BORING, and SIDEWAYS has been in the comme...
Tue, May 8 2012, 4:12 PM
MBS Live : MBS Afternoon Market Summary
In the intermediate term (about a month, perhaps), MBS have been utterly and completely outperforme...
Mon, May 7 2012, 11:29 AM
MBS Live : MBS Morning Market Summary
Without anything else on the calendar and the more significant European-election-inspired convulsions...
Mon, May 7 2012, 4:18 PM
MBS Live : MBS Afternoon Market Summary
Monday turned out to be a non-starter as MBS and Treasuries spent another day doing their favorite activi...
Sun, May 6 2012, 6:27 PM
This week's data calendar is exceptionally light with the exception of Fed speakers and a round of Treasury Auctions. The Fed-speak could prove somew...
Fri, May 4 2012, 11:20 AM
MBS Live : MBS Morning Market Summary
All the vital details are pretty much covered in the updates and featured comments below. NFP came in weak...
Fri, May 4 2012, 7:24 AM
The extent to which bond markets have been able to maintain a narrow range since the previous INFP has been nothing short of impressive. Certainly, n...
Fri, May 4 2012, 4:23 PM
MBS Live : MBS Afternoon Market Summary
Hitting all time highs in production MBS never felt so uneventful... In fact, it almost felt like ...
Thu, May 3 2012, 11:16 AM
MBS Live : MBS Morning Market Summary
The day started off with a reasonably challenging tone for bond markets. Even now, 10yr yields are u...
Thu, May 3 2012, 7:54 AM
Wednesday began in slightly better territory right from the outset as the European debt helped US Treasuries kick off the session with about half of T...
Thu, May 3 2012, 4:17 PM
MBS Live : MBS Afternoon Market Summary
This morning LOOKED like it might buck the trend and actually provide some semblance of directional...
Wed, May 2 2012, 11:15 AM
MBS Live : MBS Morning Market Summary
The headline above is carefully chosen. At first blush, we might consider this morning's stronger bo...
Wed, May 2 2012, 7:40 AM
Market response to ADP's report on private payrolls is about as "hit or miss" as its short term correlation with NFP private payrolls component. Inte...
Wed, May 2 2012, 4:44 PM
MBS Live : MBS Afternoon Market Summary
++INSERT COMMENTARY HERE++
MBS Pricing Snapshot
Pricing shown below is delayed, please no...
Wed, May 2 2012, 2:12 PM
At current near-record levels of consumer mortgage rates, and with MBS prices grinding higher, a natural question is whether rates are poised to p...
Tue, May 1 2012, 11:08 AM
MBS Live : MBS Morning Market Summary
Following yesterday's weaker-than-expected Chicago PMI report, markets were geared up for a similar...
Tue, May 1 2012, 7:28 AM
Other than the sheer lack of volume/participation, Monday's most notable feature turned out to be Chicago's ISM numbers. The drop from 62.2 last mont...
Tue, May 1 2012, 4:25 PM
MBS Live : MBS Afternoon Market Summary
The closer and closer we get to 5pm, the more it seems that this morning's ISM-inspired sell-off wi...
Mon, Apr 30 2012, 11:15 AM
MBS Live : MBS Morning Market Summary
Despite a much weaker-than-expected Chicago PMI, bond markets have generally been content trading in ...
Mon, Apr 30 2012, 7:45 AM
Bond markets traded in jaw-droppingly narrow ranges last week given the presence of the FOMC events (announcement, forecasts, press conference) and Q1...
Mon, Apr 30 2012, 4:17 PM
MBS Live : MBS Afternoon Market Summary
MBS and Treasuries looked like they might have been drifting into slightly better territory in the first ...
Fri, Apr 27 2012, 11:21 AM
MBS Live : MBS Morning Market Summary
"You shall not pass!" Resistance levels in bond markets joined the ranks of Gandalf and The Black Knight i...
Fri, Apr 27 2012, 7:20 AM
Thursday turned out to be ridiculously narrow given that it followed FOMC Day. Then again, if you tend to agree with the assessment that Bernanke and...
Fri, Apr 27 2012, 4:09 PM
MBS Live : MBS Afternoon Market Summary
This is the third Friday in a row where we've looked back on what we would have thought would be a...
Thu, Apr 26 2012, 11:14 AM
MBS Live : MBS Morning Market Summary
Little has changed for MBS and Treasuries following this morning's Jobless Claims numbers. The slightly we...
Thu, Apr 26 2012, 7:40 AM
Although it's a net positive to see MBS and Treasuries hold their ground at recent levels following yesterday's FOMC events, it does complicate things...
Thu, Apr 26 2012, 4:12 PM
MBS Live : MBS Afternoon Market Summary
By the time all is said and done today, both MBS and Treasuries are heading toward 5pm roughly in l...
Thu, Apr 26 2012, 2:57 PM
While servicing valuations and the various adjusters are the most obvious factors impacting loan execution and pricing, the price spread between diffe...
Wed, Apr 25 2012, 12:41 PM
subtractions in red and struck-through, additions in green and underlined...
Information received since the Federal Open Market Committee met in ...
Wed, Apr 25 2012, 11:17 AM
MBS Live : MBS Morning Market Summary
Bond markets, including MBS, opened in weaker territory this morning and continued losing ground in spite o...
Wed, Apr 25 2012, 8:24 AM
At last, FOMC Day arrives. .. We've been waiting for this one--and less than patiently... Two and a half weeks ago, we went into the NFP weekend wit...
Wed, Apr 25 2012, 4:22 PM
MBS Live : MBS Afternoon Market Summary
Clearly, the whipsaw movements in MBS and Treasuries are readily apparent in the 2 day minute-to-mi...
Tue, Apr 24 2012, 11:19 AM
MBS Live : MBS Morning Market Summary
After yesterday proved to be mostly dead, both in terms of volume and volatility, today brings slight...
Tue, Apr 24 2012, 7:47 AM
After yesterday's quiet session, bond markets strengthened during Asian trading hours only to move weaker when Europe got involved. Neither of the mo...
Tue, Apr 24 2012, 4:27 PM
MBS Live : MBS Afternoon Market Summary
++INSERT COMMENTARY HERE++
MBS Pricing Snapshot
Pricing shown below is delayed, please no...
Mon, Apr 23 2012, 11:33 AM
MBS Live : MBS Morning Market Summary
So far, the morning has been as uneventful as expected with no scheduled data or events on the domest...
Mon, Apr 23 2012, 4:09 PM
MBS Live : MBS Afternoon Market Summary
Today was really more of an extension of the previous week than the beginning of a new one. Schedu...
Mon, Apr 23 2012, 1:09 AM
After two excruciatingly slow, sideways weeks, markets will finally get what they've ostensibly been waiting for: Wednesday's FOMC Announcement. This...
Fri, Apr 20 2012, 11:17 AM
MBS Live : MBS Morning Market Summary
Although we threw a Hail Mary pass in the hopes of getting saved by Murphy's Law, bond markets have ...
Fri, Apr 20 2012, 7:32 AM
Here we are at the end of a week that might as well have not begun. At least in terms of offering any meaningful reasons for tuning in to bond market...
Fri, Apr 20 2012, 4:10 PM
MBS Live: MBS Afternoon Market Summary Wow... This is now officially a record breaking week. We'll need to do some more digging in order to determi...
Thu, Apr 19 2012, 11:13 AM
MBS Live : MBS Morning Market Summary
The first highs of the morning remain intact for MBS as do the first lows of the morning for TSY yields. ...
Thu, Apr 19 2012, 7:36 AM
A theme is developing... It's the one where we question the need for market analysis on a week that has, thus far, behaved as expected to an unexpect...
Thu, Apr 19 2012, 4:18 PM
MBS Live : MBS Afternoon Market Summary
Regardless of which scene in Monty Python's Holy Grail you prefer, there's no doubt that the recent...
Wed, Apr 18 2012, 12:22 PM
Last week, I wrote about specified pool trading and how originators need to take advantage of pay-up opportunities by selling their production int...
Wed, Apr 18 2012, 11:21 AM
MBS Live : MBS Morning Market Summary
Even
from afar, today showed promise as having the potential to be "mostly
dead" in terms of market...
Wed, Apr 18 2012, 8:20 AM
Given that the massive stock rally and plethora of earnings reports did little to motivate bond market movements on Tuesday, we're not looking at toda...
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