Tue, Dec 15 2009, 5:50 PM
Lawmakers aiming to speed development of U.S. covered bonds on Tuesday positioned the securities as an alternative or supplement to mortgage funding p...
Tue, Dec 15 2009, 5:34 PM
"No one knows what tomorrow's FOMC statement will contain, and no one knows how friendly or unfriendly to any given market it would need to be to gaug...
Tue, Dec 15 2009, 4:01 PM
Tue, Dec 15 2009, 1:46 PM
Mon, Dec 14 2009, 12:03 PM
This is a normal occurrence ahead of FOMC meetings, especially in December when the majority of market professionals have their "window dressing" fund...
Mon, Dec 14 2009, 8:09 AM
All in all, you will notice a somewhat bearish outlook for mortgage rates is embedded in the above commentary...ie a steeper yield curve and inflation...
Mon, Dec 14 2009, 5:18 PM
Mon, Dec 14 2009, 4:07 PM
Mon, Dec 14 2009, 1:39 PM
Fri, Dec 11 2009, 11:25 AM
Fri, Dec 11 2009, 8:27 AM
After a slow week of economic data, market participants were treated to a better than expected read on November Retail Sales this morning.Led by a 6.0...
Fri, Dec 11 2009, 5:04 PM
In exactly two weeks of trading, MBS have moved from all time highs on November 30th to 101-08 at close today, the same levels from the beginning of N...
Fri, Dec 11 2009, 3:27 PM
Fri, Dec 11 2009, 1:33 PM
Thu, Dec 10 2009, 11:59 AM
The Treasury will announce the auction results of the $13 billion long bond reopening at 1pm. Yesterday's weak 10yr auction implies one of two things ...
Thu, Dec 10 2009, 8:31 AM
After moving higher overnight, mostly at the start of the London trading session, "rate sheet influential" benchmark rates ticked up a few bps and the...
Thu, Dec 10 2009, 5:00 PM
Thu, Dec 10 2009, 2:48 PM
Thu, Dec 10 2009, 1:04 PM
JUST LIKE YESTERDAY, THIS AUCTION WAS NOT MET WITH STRONG DEMAND.....something many were expecting, thus rates have barely budged.
Wed, Dec 9 2009, 12:41 PM
"Rate sheet influential" MBS prices plummeted after the auction results. "Rate sheet influential" MBS prices plummeted after the auction results.
Wed, Dec 9 2009, 11:03 AM
As we've seen so often, markets tend to trade along pre-existing ranges toward some sort of inflection point. An oversimplified way to think about th...
Wed, Dec 9 2009, 8:39 AM
101-30 provided support yesterday, something we expect to continue unless the 10yr trades above 3.42%...or.....if the lack of MBS liquidity that set i...
Tue, Dec 8 2009, 11:07 AM
Short-term and long-term charts are telling two decidedly different stories today. If one were to look only at the short-term chart, we would indeed ...
Tue, Dec 8 2009, 9:00 AM
Rate sheet influential MBS coupons are starting out the session in FACEMELTING status. The FN 4.0 is +0-18 at 99-23 yielding 4.035% and the FN 4.5 is ...
Tue, Dec 8 2009, 5:33 PM
Taking things one day at a time, we'd have to point out that we're once again closing over 102-00... For any you're floating into tomorrow, pay close...
Tue, Dec 8 2009, 4:04 PM
Heading into 5pm "going out" marks, trading flows in the agency MBS market are few and far between. The FN 4.0 is+0-04 at 99-09 yielding 4.099%. The F...
Tue, Dec 8 2009, 2:02 PM
As benchmark TSY rates re-test higher yield levels, trading flows in the TBA MBS market have fizzled out. We went from every offer getting lifted to d...
Mon, Dec 7 2009, 11:32 AM
In an orderly sell off, traders test individual price levels to determine what the market is willing to accept/not accept. This "probing" combined wi...
Mon, Dec 7 2009, 8:35 AM
After moving outside the range in holiday trading conditions in the week before, rates backed-up in a hurry last week as traders took profits, unwound...
Mon, Dec 7 2009, 3:39 PM
Looks like consumers are leaning on their credit cards again....In October, consumers reduced outstanding debt by $3.5 billion, much less than the $9....
Mon, Dec 7 2009, 1:48 PM
Bottom line: everybody is fond of saying that lenders will take away faster than they give it back and it's very likely that Friday was no exception f...
Fri, Dec 4 2009, 10:47 AM
Fri, Dec 4 2009, 8:29 AM
Rates are higher after the data....After coming to a rest directly in the middle of the range ahead of the data, the 10yr is now testing the upper lim...
Fri, Dec 4 2009, 3:29 PM
We are sticking with our strategy heading into year end. PLAY THE RANGE UNTIL THE RANGE PLAYS YOU.
Thu, Dec 3 2009, 11:34 AM
Thu, Dec 3 2009, 8:32 AM
RATES ARE MOVING HIGHER IN A HURRY THIS MORNING. The 10yr TSY note is -0-19 at 99-30 yielding 3.384%...This is a function of the market finding it's w...
Thu, Dec 3 2009, 3:57 PM
The market found a comfort level, where it had last accepted price levels based on strategies and biases not not influenced by an outlier event...more...
Thu, Dec 3 2009, 2:10 PM
For the better part of the day MBS have been confined in a range between 101-25 and 101-28. Except for a brief foray to 101-29, this trend goes all t...
Wed, Dec 2 2009, 11:33 AM
Wed, Dec 2 2009, 9:16 AM
We continue to remind of the importance of THE RANGE. The recent rise in rates adds further evidence that the market is more comfortable trading THE R...
Wed, Dec 2 2009, 3:59 PM
While last Friday's MBS valuation weakness extended all the way into the first half of today's trading session...buyers finally emerged this afternoon...
MBS Market Alerts
