Tue, Jan 25 2011, 10:47 AM
While we can certainly say the bond market lost composure after 10am Consumer Confidence data, it's not an outright defeat. Technical support has com...
Tue, Jan 25 2011, 9:19 AM
10s are currently testing a long-term 50% fibonacci retracement. The market's first attempt to break that technical resistance level has failed. If w...
Tue, Jan 25 2011, 8:35 AM
Benchmark interest rates are rallying and equity futures are weaker after markets learned the British economy unexpectedly shrank in the fourth quarte...
Tue, Jan 25 2011, 4:48 PM
Budget Deficits. Entitlements. Slow Growth. Tough Choices. Spending Freezes........Civil Unrest! Sounds a lot like Europe doesn't it?
Tue, Jan 25 2011, 4:18 PM
After 1pm, 10yr notes rallied nearly 8bps by 2pm. Since then yields have consolidated into a narrow range around 3.32 where they recently crossed the ...
Tue, Jan 25 2011, 1:01 PM
Treasury just sold $35 billion 2 year notes maturing on Jan. 31, 2013.
Dealers had to bite the bullet on this one...
For the second 2-year not...
Mon, Jan 24 2011, 11:28 AM
President Obama will give the State of the Union address tomorrow night and the FOMC will release their first policy statement of 2011 on Wednesday af...
Mon, Jan 24 2011, 11:21 AM
With respect to the previously discussed trend channel, 10yr note yields are at the lower end of that range at 3.3926. This rangebound behavior has no...
Mon, Jan 24 2011, 8:59 AM
The week ahead is busy to say the least. President Obama will give the State of the Union Address on Tuesday night. The Federal Reserve will hold a t...
Mon, Jan 24 2011, 5:44 PM
In preparing for upcoming headline events we almost don't need to ask ourselves if today's silence means something. It's pretty much a given...
Mon, Jan 24 2011, 4:16 PM
In the previous update, we noted the potential net effect of earlier movements in the 10yr yield could serve to merely adjust the range of the trend-c...
Mon, Jan 24 2011, 1:51 PM
Wednesday's FOMC statement will include the perspective of 3 new voters: Charles Plosser, Richard Fisher, and Charles Evans. The FOMC statement will h...
Fri, Jan 21 2011, 12:23 PM
Referring to anything today as "pivotal," is a bit of an overstatement considering the lack of data and volume, but from a technical perspective, 10yr...
Fri, Jan 21 2011, 11:23 AM
This is a promising development for bonds, although overall volume today may not be high enough to tell us much more. Yesterday, 10yr yields ticked ju...
Fri, Jan 21 2011, 8:46 AM
The bond market needs more motivation if it is to commit to a broad based shift in bias. Until then we keep playing the range.
Fri, Jan 21 2011, 5:25 PM
NEXT WEEK: State of the Union, FOMC Meeting, Treasury Auctions, GSE Reform, Earnings Galore, and a busy economic calendar including Consumer Confidenc...
Fri, Jan 21 2011, 4:23 PM
10yr yields decidedly into 3.41's now and MBS are happy about that. But this is more like the happiness that comes from the passing of a risky situati...
Thu, Jan 20 2011, 11:23 AM
Calling reprices gets a little tricky here as some lenders were a little slow to price this AM while others published at their usal time. The earlier ...
Thu, Jan 20 2011, 11:18 AM
With only 26 minutes having passed since the data that threatened to push bonds out of their recent range, we're still in the "so far so good" stages ...
Thu, Jan 20 2011, 9:19 AM
This week's data is more important than usual because it covers claims in the week ending January 15th...which includes the 12th day of the month. Why...
Thu, Jan 20 2011, 8:28 AM
Wednesday’s stock sell-off has been extended. Equity futures are pointing to a lower open this morning after the S&P 500 shed 1% yesterday, a result o...
Thu, Jan 20 2011, 4:19 PM
The volume spike following the tips auction was immense. 1pm - 130pm was the highest volume of any 30 minute period today. 10yr contracts approached t...
Thu, Jan 20 2011, 1:56 PM
If you have not yet seen reprices for the worse, they're likely on the way after an unexpectedly weak 10yr TIPS auction jolted "rate sheet influential...
Wed, Jan 19 2011, 11:15 AM
A recap of MBS microposts and featured comments on the MBSonMND live discussion chat board.
Wed, Jan 19 2011, 8:19 AM
Investors are keeping both stock and bond markets flat as we await Q4 earnings from Goldman Sachs, State Street, U.S. Bank, and Wells Fargo. On top of...
Wed, Jan 19 2011, 4:17 PM
Stocks, bonds, and MBS continue to drift sideways in after hours trading at 1280 in the S&P 3.337 in the 10yr, and 102-14 in FNCL 4.5's. Any lenders w...
Wed, Jan 19 2011, 1:29 PM
MBS and TSYs are near their best levels of the day and reprices for the better have been widely reported. The stock lever can be cited as a source of ...
Tue, Jan 18 2011, 11:20 AM
After failing to confirm a breakout from the recent range, benchmark 10-year yields have spiked higher in an aggressive manner. This illustrates the r...
Tue, Jan 18 2011, 10:38 AM
After failing to confirm a break of the broader 3.27 to 3.56% range, benchmark 10 year TSY yields shot 13bps higher in an aggressive manner this morni...
Tue, Jan 18 2011, 8:56 AM
The week ahead is relatively quiet on new data, the housing market will however be in focus with three new reports set to print. Investors will be wat...
Tue, Jan 18 2011, 6:04 PM
As long as this range prevails, it's lowest yield levels continue to be ideal lock suggestions, while it's weaker levels are entry points better suite...
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, 4:17 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, 4:19 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...
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