Wed, Oct 28 2009, 1:20 PM
After an initial "knee jerk" move lower in price, the rates market is back to its best levels of the day. The 10yr note is currently +0-10 yielding 3....
Tue, Oct 27 2009, 11:20 AM
The FN 4.0 is currently +0-10 at 97-27 yielding 4.223% while the FN 4.5 is +0-08 at 100-16 yielding 4.442%. The secondary market current coupon is 4.4...
Tue, Oct 27 2009, 9:13 AM
Ahead of data, the FN 4.0 was +0-00 at 97-17 yielding 4.253% while the FN 4.5 was trading +0-02 at 100-10 yielding 4.465%. The secondary market curren...
Tue, Oct 27 2009, 4:55 PM
Tue, Oct 27 2009, 3:27 PM
The FN 4.0 is trading +0-15 at 98 "rock" (trader jargon for 98-00. Could also say 98 no level all handle, 98 even, 98 the figure) yielding 4.422% whil...
Tue, Oct 27 2009, 1:02 PM
Mon, Oct 26 2009, 12:07 PM
In the spirit of the week, MBS and TSY's endured somewhat of a scare this AM. FN 4.5 MBS fell to 100-06+, which would put it below some very important...
Mon, Oct 26 2009, 9:41 AM
Higher benchmark yield have led "rate sheet influential" MBS prices lower. The FN 4.0 is currently -0-05 at 97-25 while the FN 4.5 is -0-06 at 100-14.
Mon, Oct 26 2009, 8:17 AM
The FN 4.0 is trading -0-01 at 97-29 yielding4.215% and the FN 4.5 is -0-01 at 100-18 yielding 4.434%.The secondary market current coupon is 4.39%. Th...
Mon, Oct 26 2009, 5:07 PM
Mon, Oct 26 2009, 4:02 PM
The FN 4.0 is currently -0-11 at 97-18 yiedling 4.247%. and the FN 4.5 is -0-11 at 100-08 yielding 4.469. The secondary market current coupon is 4.436...
Mon, Oct 26 2009, 2:12 PM
The FN 4.0 is currently 0-10 at 97-21 yielding 4.241% while the FN 4.5 is trading -0-09 at 100-11 yielding 4.461%. The secondary market current coupon...
Fri, Oct 23 2009, 11:15 AM
The FN 4.0 is currently -0-05 at 98-01 yielding 4.203% while the FN 4.5 is trading 6/32 lower at 100-20 yielding 4.426%. The secondary market current ...
Fri, Oct 23 2009, 8:45 AM
The 10yr TSY note is -17/32 at 101-07 yielding 3.481%. The FN 4.0 is -0-09 at 97-29 yielding 4.215% while the FN 4.5 is trading -0-07 at 100-19 yieldi...
Fri, Oct 23 2009, 6:23 PM
It is no secret that the most widely discussed topic of the week was: The Range Trade
Our analysis relied upon the random price action of intraday ...
Fri, Oct 23 2009, 2:53 PM
The FN 4.0 is currently -0-03 at 98-03 yielding 4.196% and the FN 4.5 is trading -0-04 at 100-22 yielding 4.418%. The secondary market current coupon ...
Thu, Oct 22 2009, 11:29 AM
The FN 4.0 is currently +0-01 at 98.06 yielding 4.187% while the FN 4.5 is trading -0-02 at 100-25 yielding 4.406. The secondary market current coupon...
Thu, Oct 22 2009, 8:14 AM
Rates are rising ahead of the 11am TSY supply announcement. Benchmark TSY traders not so much focused on BIG PICTURE or data....traders more concerned...
Thu, Oct 22 2009, 4:57 PM
Thu, Oct 22 2009, 3:51 PM
Heading into the 5pm marking period, the FN 4.0 is trading +0-04 at 98-09 yielding 4.178% while the FN 4.5 is +0-02 at 100-29 yielding 4.391%. The sec...
Thu, Oct 22 2009, 1:51 PM
Considering the improvements in the secondary market, you are likely looking for a little more reprice for the better love from lenders...don't hold y...
Wed, Oct 21 2009, 11:54 AM
Coming up with creative ways to convey the same sentiment is taxing, even for hyperactive extroverts...
Yes, it's still a range, but today gives us...
Wed, Oct 21 2009, 10:18 AM
The 10yr TSY note yield has pushed through 3.40% and is currently testing 3.42%. This down trade in TSYs has forced "rate sheet influential" MBS price...
Wed, Oct 21 2009, 9:30 AM
Weakness in rate sheet influential benchmarks is pushing rate sheet influential MBS prices lower this morning. The FN 4.0 is currently -0-07 at 98-05 ...
Wed, Oct 21 2009, 5:02 PM
Wed, Oct 21 2009, 4:09 PM
The FN 4.0 is trading -0-04 at 98-08 yielding 4.181% while the FN 4.5 is +0-00 at 100-29 yielding 4.391%. The secondary market current coupon is 4.328...
Wed, Oct 21 2009, 1:55 PM
Having the same lunch time and again may start to get boring, but at least it reassures us about the intraday weakness in MBS. The secondary market Cu...
Tue, Oct 20 2009, 11:05 AM
Tue, Oct 20 2009, 8:46 AM
830am data was bond friendly. The 10yr Treasury yield is down to 3.33% from 3.39%. The FN 4.0 is +0-12 at 98-16. The FN 4.5 is +0-08 at 101-02. There ...
Tue, Oct 20 2009, 4:39 PM
Tue, Oct 20 2009, 4:12 PM
This is just an example of how MBS prices compare to returns of their benchmarks. Terms used often to describe relative value: yield spreads are wider...
Tue, Oct 20 2009, 2:09 PM
As MG pointed out in MBS MORNING, rate sheet influential MBS coupons are being outperformed by benchmark big brothers today. The FN 4.5 is currently +...
Mon, Oct 19 2009, 11:00 AM
This morning the Federal Reserve formally addressed whispers regarding their intentions to conduct reverse repos in the open market. A "repo" is short...
Mon, Oct 19 2009, 8:39 AM
Scheduled data doesn't show up until tomorrow, so the focus this AM is on Ben and beyond that, speculation and headline responses. So far this AM, MB...
Mon, Oct 19 2009, 5:20 PM
After some morning volatility and a fairly directional rally in stocks, MBS and Tsy's settled into a range and Stocks seemed to hit the wall at 1100 o...
Mon, Oct 19 2009, 3:41 PM
Heading into the 5pm "BONDS PERFORMED WELL DESPITE RALLYING STOCKS" marking period the FN 4.0 is +0-04 at 98-09 yielding 4.1775% and the FN 4.5 is tr...
Mon, Oct 19 2009, 1:35 PM
After a noticeable spike in bond prices following the reverse repo press release this AM, both MBS and TSY's have settled back into an uneventful rang...
Fri, Oct 16 2009, 11:06 AM
The FN 4.0 is currently +0-02 at 97-26 yielding 4.225% while the FN 4.5 is trading +0-02 at 100-17 yielding 4.438%. The secondary market current coupo...
Fri, Oct 16 2009, 8:20 AM
There is no reason to believe the Fed will raise rates anytime soon thus yields in the short end of the curve will remain in record low territory...th...
Fri, Oct 16 2009, 5:01 PM
Fri, Oct 16 2009, 3:51 PM
Heading into the 5pm "HOLY COW THE DOW HIT 10,000" marking period (please note sarcasm), the FN 4.0 is +0-10 at 98-02 yielding 4.199% and the FN 4.5 i...
Fri, Oct 16 2009, 1:30 PM
Thu, Oct 15 2009, 10:46 AM
The FN 4.0 is trading -0-12 at 97-25 yielding 4.228 while the FN 4.5 is -0-09 at 100-19 yielding 4.429%.The secondary market current coupon is 4.349% ...
Thu, Oct 15 2009, 8:32 AM
MBS and Tsy's are understandably worse given the above raft of data that is generally economically bullish. The exception obviously would be in the in...
Thu, Oct 15 2009, 7:34 PM
Before you get too excited at the sight of 3.50% across the headlines of a mortgage website , you should know that Treasuries are the topic of our foc...
Thu, Oct 15 2009, 4:15 PM
Lots of reason to believe the 10yr will be testing 3.50% tomorrow. All week the 10yr yield has has pushed higher and higher in the range. What's going...
Thu, Oct 15 2009, 1:34 PM
The FN 4.0 is currently -0-11 at 97-26 yielding 4.2248% and the FN 4.5 is trading -0-11 at 100-17 yielding 4.4376%. The secondary market current coupo...
Wed, Oct 14 2009, 11:40 AM
The FN 4.0 is trading -0-10 at 98-12 yielding 4.1681% and the FN 4.5 is -0-07 at 100-30 yielding 4.387%. The secondary market current coupon is 4.299%...
Wed, Oct 14 2009, 8:30 AM
September Retail Sales Data was just released...it was better than expected. The bond market, which was already weaker after JP Morgan earnings beat e...
Wed, Oct 14 2009, 6:20 PM
The FN 4.0 closed -0-17 at 98-04+ yielding 4.19% and the FN 4.5 closed -0-09+ at 100-28 yielding 4.397%. The secondary market current coupon is 4.313%...
MBS Market Alerts
