Mon, Jun 1 2015, 4:54 PM
Mortgage rates moved noticeably higher to begin the month, bringing the average conventional 30yr fixed quote back to 4.0% after briefly hitting 3....
Mon, Jun 1 2015, 1:39 PM
With corporate issuance subsiding somewhat and month-end tradeflows providing steadier demand, the last week of May proved to be an eye of the storm. ...
Fri, May 29 2015, 7:33 AM
Just yesterday morning, I noted that bond markets may be seeing the light at the end of the tunnel for May. Indeed, things have been going well enoug...
Fri, May 29 2015, 5:30 PM
It came right down to the wire . The best 3pm closing level for 10yr yields was previously seen on May 1st at 2.117. We hovered near those levels f...
Fri, May 29 2015, 4:00 PM
Mortgage rates moved lower again today , making this the 7th straight day where rates have either held steady or improved. Over that time, no singl...
Fri, May 29 2015, 1:15 PM
Today has quickly become the 3rd day of exceptionally calm trading relative to a heretofore tumultuous month. The even-keeled vibes began right fro...
Thu, May 28 2015, 12:12 PM
After the last visit to May's weakest levels (last Wednesday morning), MBS and Treasuries have been in a fairly linear trend back toward stronger lev...
Thu, May 28 2015, 7:33 AM
Here we are in the last week of May and things finally seem to be going our way (knock on wood) with respect to bond markets putting some more consist...
Thu, May 28 2015, 5:44 PM
Mortgage rates barely budged today. Those that budged moved almost imperceptibly lower from yesterday's latest rate sheets. In general, there was...
Thu, May 28 2015, 5:39 PM
There's 'month-end' and then there's 'month-end.' In a general sense, this entire week can be referred to as month-end as far as bond markets are c...
Wed, May 27 2015, 12:05 PM
On an otherwise quiet morning, bond markets had been holding in reasonably strong territory. MBS and Treasuries began the domestic session at slightl...
Wed, May 27 2015, 7:34 AM
While yesterday didn't mark any ground-breaking foray back into the stronger trading levels seen in mid-April, it did end up being the first time si...
Wed, May 27 2015, 6:27 PM
MBS and Treasuries ended the day near their best closing levels since the beginning of the month. It wasn't a given from the outset though, and far...
Wed, May 27 2015, 5:04 PM
Mortgage rates moved sideways-to-slightly lower in most cases today, but only after underlying bond markets fought back from morning weakness. B...
Tue, May 26 2015, 7:34 AM
In several ways, last week was a bit of a let-down in terms of answering the big questions. Treasuries and MBS had generally been holding sideways af...
Tue, May 26 2015, 6:22 PM
US rates markets began the global trading session fairly timidly, but moving slightly lower in yield. European hours brought bigger moves as stocks t...
Tue, May 26 2015, 5:20 PM
Mortgage rates were just slightly lower in
most cases today. Last Friday, rates did a bit better than the
underlying market weakness would h...
Tue, May 26 2015, 1:25 PM
Halfway through the day and domestic bond markets are very close to levels not seen since May 8th. 10yr yields are challenging the important 2.14 in...
Fri, May 22 2015, 12:03 PM
Trading has been surprisingly reactive to data this morning with stronger CPI resulting in an obvious selling spree. Up until that point, bond market...
Fri, May 22 2015, 7:34 AM
On the surface , today has a lot of things going for it. The only economic data is CPI, and it would be hard-pressed to convince anyone that inflati...
Fri, May 22 2015, 3:48 PM
Mortgage rates were unchanged on average today, though some lenders were slightly higher or lower than yesterday's latest rate sheets. This is a...
Fri, May 22 2015, 3:19 PM
Surprisingly, the story of the day turned out to be Core CPI coming in at +0.2558 vs a forecast of +0.2. This was apparently enough to send bond mar...
Thu, May 21 2015, 12:30 PM
April 9th. That's the last time bond markets haven't rallied on a Thursday. While some of the older examples in this trend are close calls, the la...
Thu, May 21 2015, 7:34 AM
Hi, Welcome to the show. Are you ready to play Find That Market Mover?
It's America's favorite game (or at least it's my favorite idea for a to...
Thu, May 21 2015, 5:00 PM
Much of the volatility in late April and early May has been frustratingly opaque in terms of traditional cause and effect relationships. We were forc...
Thu, May 21 2015, 3:38 PM
Mortgage rates moved tentatively lower today. The pace was only slightly better than yesterday when it was all but undetectable. To those expec...
Wed, May 20 2015, 7:34 AM
Much has been made of today's FOMC Minutes as some sort of defining moment in the potential long-term shift toward higher rates. Some say it's a re...
Wed, May 20 2015, 5:18 PM
Mortgage rates are ending the day very close to unchanged , following what was--by all rights--a supportive reading of the Fed's April Meeting Min...
Wed, May 20 2015, 5:17 PM
In this morning's commentary , I said that anxiety over today's FOMC Minutes was misplaced when it comes to defining moments in a potential long-te...
Wed, May 20 2015, 1:16 PM
On the whole, it's been a quiet day for bond markets, with the assumption being that volatility will increase after the 2pm release of the FOMC Minut...
Tue, May 19 2015, 7:34 AM
The Fed is yet to come this week and that could be the first good opportunity for bonds to decide on their next move from the past few days of consoli...
Tue, May 19 2015, 5:24 PM
Someone wants us to think that rates are heading abruptly higher. Well, to be fair, it's not so much about wanting anyone to think anything. It has ...
Tue, May 19 2015, 3:41 PM
Mortgage rates continued higher at an unsettling pace today, following an exceptionally strong reading on Residential Construction data. This part...
Tue, May 19 2015, 1:22 PM
Remember the "QE-on vs QE-off" trading in 2013? In an extremely overt way, stocks and bonds rallied and sold together based on constantly evolving ...
Mon, May 18 2015, 12:54 PM
Last Monday saw an unpleasant reversal of 2 days of gains heading into the previous weekend. Now this Monday is going through some of the same motion...
Mon, May 18 2015, 7:34 AM
If you've been out for 3-4 weeks, welcome back. Bonds have been selling off rather abruptly and now we're hoping for a bounce. We thought we had one...
Mon, May 18 2015, 5:16 PM
After Thursday and Friday of last week mimicked the previous Thursday and Friday, it was fair to wonder if we'd get another ugly Monday today. Whil...
Mon, May 18 2015, 4:34 PM
Mortgage rates moved higher out of the gate for a second straight week, though today's jump was smaller than last Monday's. The most prevalent con...
Fri, May 15 2015, 12:54 PM
Be warned that the following reduces a complex, multifaceted issue to one of its individual components. It's merely an examination of this one comp...
Fri, May 15 2015, 7:34 AM
Things were looking up as of yesterday's close. After weeks of selling off with only a brief 1.5 day correction last Thursday and Friday, bonds fina...
Fri, May 15 2015, 6:09 PM
Remember last Thursday and Friday? Those were pretty good! It sure looked like bonds had had enough weakness for a while and might start to consolid...
Fri, May 15 2015, 4:52 PM
Mortgage rates improved for a second day, and ended at their lowest levels for a second straight week. The most prevalent conventional 30yr fixe...
Thu, May 14 2015, 11:04 AM
This will largely be a rehash of the morning update that MBS Live members have already seen, as we haven't been treated to the morning volatility ...
Thu, May 14 2015, 7:34 AM
If bond markets are going to make something happen with their recent attempts to establish support at the weakest levels of 2015, it would be nice if ...
Thu, May 14 2015, 4:05 PM
In recent weeks, we've increasingly discussed the concept of " supply ." This has largely been driven by the ramp up in corporate debt issuance creat...
Thu, May 14 2015, 3:29 PM
Mortgage rates finally caught a break today. This is quite a welcome development (indeed, yesterday's commentary pointed out that no breaks were b...
Wed, May 13 2015, 12:46 PM
The headline is the extend of the story this morning. We began the day in positive territory, but have been pulled into negative territory by Europea...
Wed, May 13 2015, 7:34 AM
Who's to say if the next correction will be like the last correction which lasted all of 1.5 days before bonds got blasted again? But even the bigges...
Wed, May 13 2015, 4:02 PM
No love for bond markets...
That's the only possible takeaway after a day where technicals are stacking up in a friendly way, Retail Sales and seve...
Wed, May 13 2015, 3:31 PM
Mortgage rates can't catch a break . They're not much higher than yesterday, but yesterday was already the worst of 2015 .
Actually, it's the b...
