MBS Live: MBS Afternoon Market Summary
Apart from the NFP miss in the morning, little else transpired today.  There was a good bounce higher after the report itself, followed by a general slog sideways and slightly higher.  The best levels of the day were seen just before 1pm, with volume having died off even earlier.  Markets showed us their preferred post-NFP trading levels before 10am and the day has essentially been over since then.  Despite some weakness in MBS into the afternoon, prices are still set to close at all-time highs.
MBS Pricing Snapshot
Pricing shown below is delayed, please note the timestamp at the bottom. Real time pricing is available via MBS Live.
FNMA 3.5
105-25 : +0-09
FNMA 4.0
106-31 : +0-06
FNMA 4.5
107-23 : +0-04
FNMA 5.0
108-14 : +0-02
GNMA 3.5
107-24 : +0-10
GNMA 4.0
109-21 : +0-05
GNMA 4.5
109-24 : +0-05
GNMA 5.0
110-08 : +0-02
FHLMC 3.5
105-19 : +0-09
FHLMC 4.0
106-21 : +0-05
FHLMC 4.5
107-06 : +0-04
FHLMC 5.0
107-28 : +0-06
Pricing as of 4:06 PM EST
Afternoon Reprice Alerts and Updates
Below is a recap of instant Reprice Alerts and updates issued via email and text alert to MBS Live subscribers this afternoon.
11:44AM  :  ALERT ISSUED: Getting To Be About That Time (For Positive Reprice Potential)
Very little has transpired since this morning's NFP, so this update will be short. Bond markets have been in a steady, sideways-to-slightly-stronger drift for the past several hours. Gains have carried production MBS 4-5 ticks higher from rate sheet time and those gains have held for long enough that we'd start to consider a few of the characteristically early-to-act lenders may reprice positively here. That said, rate sheets were strong this morning, so the impetus to improve them yet again is fairly limited, especially when balanced against capacity constraints. Even so, positive reprices are increasingly possible the longer current gains are held or improved upon. Negative reprice risk is only a consideration in terms of pipeline control.
Live Chat Featured Comments
A recap of the featured comments from the MBS Live Dashboard's Live Chat feature, utilized by hundreds of industry professionals each day.
Mike Drews  :  "REPRICE: 1:42 PM - GMAC Better"
LSP  :  "REPRICE: 1:37 PM - Fifth Third Mortgage Better"
LSP  :  "REPRICE: 1:31 PM - Wells Fargo Better"
Rob Clark  :  "REPRICE: 1:06 PM - Provident Funding Better"
Matthew Graham  :  "haven't seen much if any above 4.0"
Ted Rood  :  "How the heck much volume can there be in 4.0-5.0 coupon bonds? Obviously no new production, would be labeled high cost loans even if someone wanted to write them....."
Matthew Graham  :  "there is no 2.5 coupon"
Jason Sheaffer  :  "funny even asking this but is there any activity at all in the 2.5 coupon?"
Matthew Graham  :  "would assume that trend continues today"
Matthew Graham  :  "haven't gotten a volume breakdown yet but they were well over half the market yesterday (the Fannie/Freddie 30yr market)"
Jason Sheaffer  :  "MG, how much action are we seeing in the 3.0 coupon today...looking awfully nice at 103-15"
Matthew Graham  :  "RTRS- GREEK PM SAMARAS SAYS GOVERNMENT WANTS TO SECURE GREECE'S PLACE IN THE EURO "
Matthew Graham  :  "RTRS - GREEK PM SAMARAS SAYS THE FISCAL PROGRAMME HAS MISSED ITS TARGETS "
Matthew Graham  :  "Barclay's dominoes anyone? RTRS - GERMAN FINANCIAL REGULATOR BAFIN CONDUCTING SPECIAL PROBE OF DEUTSCHE BANK ON LIBOR -SOURCES "
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