Mon, Nov 16 2009, 5:15 PM
Mon, Nov 16 2009, 3:38 PM
As the session draws closer to close, the FN 4.0 is +0-18 at 99-22 yielding 4.035% and the FN 4.5 is +0-08 at 102-01 yielding 4.252%. The secondary m...
Mon, Nov 16 2009, 1:56 PM
Fri, Nov 13 2009, 10:59 AM
While intraday trade flows dont necessarily represent a long term strategy in the rates market, there is still reason to mark and highlight this event...
Fri, Nov 13 2009, 8:32 AM
Fri, Nov 13 2009, 5:45 PM
Fri, Nov 13 2009, 3:54 PM
Heading into the 5pm marking period, the FN 4.0 is +0-08 at 99-05 yielding 4.09% and the FN 4.5 is trading +0-08 at 101-24 yielding 4.287%. The seco...
Fri, Nov 13 2009, 1:47 PM
Thu, Nov 12 2009, 11:22 AM
Not a bad concession built into the long bond before the auction. That said, 30s are somewhat oversold at the moment, currently testing yield levels n...
Thu, Nov 12 2009, 8:36 AM
Thu, Nov 12 2009, 5:58 PM
Thu, Nov 12 2009, 3:26 PM
I've been hesitant to address this issue while I've watched it slowly unfold, but perhaps now is a good time to raise the red flag. Lackluster demand ...
Thu, Nov 12 2009, 1:28 PM
Thu, Nov 12 2009, 1:02 PM
Wed, Nov 11 2009, 9:17 AM
Tue, Nov 10 2009, 11:18 AM
Tue, Nov 10 2009, 9:20 AM
At the moment, the December FN 4.0 is +0-06 at 98-23 and the FN 4.5 is trading +0-05 at 101-08. Because we are right in the middle of the settlement p...
Tue, Nov 10 2009, 5:11 PM
Tue, Nov 10 2009, 3:46 PM
The FN 4.0 is trading +0-02 at 98-19 yielding 4.146% and the FN 4.5 is +0-02 at 101-05 yielding 4.359%. The secondary market current coupon is 4.253%...
Tue, Nov 10 2009, 1:25 PM
Tue, Nov 10 2009, 1:03 PM
Mon, Nov 9 2009, 11:21 AM
Mon, Nov 9 2009, 8:29 AM
Plain and Simple: If yield curve bargain buyers take advantage of the steep shape of the curve...the unwinding of expensive MBS valuations could be of...
Mon, Nov 9 2009, 3:14 PM
Good Afternoon everyone. Today is Notification Day in the TBA MBS market. At this point, veteran MBS commentary readers are well aware of the events t...
Mon, Nov 9 2009, 1:11 PM
The Treasury just auctioned a record $40bn in 3yr notes, $1 billion more than the October issuance. The bid to cover ratio was 3.33 bids for every one...
Fri, Nov 6 2009, 11:29 AM
Fri, Nov 6 2009, 9:46 AM
The 10yr note yield just rose to 3.54%. Hopefully we get some short covering there and a reversal. Unfortunately this is having negative effects on "r...
Fri, Nov 6 2009, 8:33 AM
Oct Non-farm Payrolls Worse than Expected at -190,000 vs. consensus -175,000 vs. Sept -219,000 (previously -263,000). Unemployment Rate: 10.2% vs. con...
Fri, Nov 6 2009, 3:32 PM
In breaking news, it has been determined that today's NFP report was all an elaborate hoax that was never intended to have any effect on the markets b...
Thu, Nov 5 2009, 12:26 PM
When the yield curve steepens, it implies interest rates will be higher in the future. If interest rates are expected to increase in the next 10 years...
Thu, Nov 5 2009, 9:24 AM
After the data, the dollar index weakened, oil prices barely budged, same with Goooooooooollld, and S&P futures ticked higher after the data....curren...
Thu, Nov 5 2009, 2:04 PM
While the 10yr TSY note continues to extend yesterday's range, "rate sheet influential" MBS coupons continue to outpeform their benchmark big brothers...
Wed, Nov 4 2009, 11:33 AM
MBS are a trading a tick higher or lower than unchanged on the day. That's 100-16 on the 4.5. Tsy's meanwhile are languishing, with the 10yr down 11...
Wed, Nov 4 2009, 9:15 AM
After morning data and the TSY refunding statement, the 2yr note yield continues to move higher, now trading at 0.936% while the 10yr TSY note is abov...
Wed, Nov 4 2009, 5:48 PM
The MBS AFTERNOON commentary was fairly robust. And you also have the write up on the Fed Announcement to read, so we'll keep the words to a minimum ...
Wed, Nov 4 2009, 2:21 PM
The FOMC Statement has been released...
As we expected no change to the all important "for an extended period" verbiage. Nonetheless the initial re...
Wed, Nov 4 2009, 1:38 PM
Looking at this in an historical context, in previous economic downturns when the labor market was a casualty, the FOMC did not raise the Fed Funds ra...
Tue, Nov 3 2009, 11:16 AM
The 10yr TSY note yield is -0-07 at 101-16 yielding 3.446%....higher from opening levels, testing the upper boundaries of support (as discussed this ...
Tue, Nov 3 2009, 9:36 AM
We think the 10yr note is going to have major difficulty breaking through 3.38%, at the same time we anticipate rates will run higher after the FOMC m...
Tue, Nov 3 2009, 2:30 PM
And maybe we should also "make way" for tomorrow's refunding announcements as well? FOMC gets more attention (even from us), but some of today's weak...
Tue, Nov 3 2009, 1:21 PM
The 10yr TSY note is testing 3.50% and rate sheet influential MBS prices are moving lower. IF YOU DID NOT GET A REPRICE FOR THE WORSE ALREADY...you wi...
Mon, Nov 2 2009, 11:32 AM
The FN 4.0 is currently -0-04 at 98-17 yielding 4.153% while the FN 4.5 is trading -0-02 at 101-04 yielding 4.364%. The secondary market current cou...
Mon, Nov 2 2009, 8:26 AM
CIT Group filed for bankruptcy on Sunday, helping the bond market briefly improve in the the overnight session...however as the firm's failure was pri...
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