While we can trace some of this morning's back and forth market movement to domestic economic data (Chicago PMI helped, JOLTS hurt), it was the European market hand-off that set the tone for today's US rate rally. The only major contribution from a domestic standpoint would be several Fed speakers hitting the wires talking about "skipping" the next rate hike at the upcoming meeting.
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- Chicago PMI
- 40.4 vs 47.3 c'cast, 48.6 prev
- Job Openings
- 10.1m vs 9.2m f'cast, 9.6m prev
- Chicago PMI
decently stronger overnight, but losing ground since 8:20am. MBS still up 1 tick (0.03) in 5.5 coupons and 5 ticks (.16) in 5.0 coupons. 10yr down 2bps at 3.673.
Some back and forth surrounding AM econ data. 10yr down 4bps at 3.654. MBS up a quarter point.
Additional gains in the PM hours. 10yr down 5.3bps at 3.641 and MBS up 3/8ths of a point.
Best levels of the day with 10yr down 7.8bps at MBS up half a point.
MBS Market Alerts
