Tue, Mar 3 2015, 7:33 AM
Yesterday morning, bond traders held off on more meaningful selling until they could rule out a big miss in the ISM data. That would normally mean ...
Tue, Mar 3 2015, 4:26 PM
Bonds sold off again today amid a total absence of economic data and meaningful headlines. Tradeflows were left in control and the biggest considerat...
Tue, Mar 3 2015, 3:18 PM
Mortgage rates moved convincingly higher for the second straight day, bringing them back near the highest levels of 2015. Rates are dictated pri...
Mon, Mar 2 2015, 12:44 PM
In hindsight, this has turned out to be a simple morning for bond markets. That wasn't the case earlier when we could only guess at the likely culp...
Mon, Mar 2 2015, 7:34 AM
It's an exciting and dangerous time for US rates markets, full of risk and opportunity. For those of us who were closely watching trends in rates...
Mon, Mar 2 2015, 5:34 PM
Have you heard much about Actavis before today?
Me neither, but that sure changed quickly! Actavis is a big pharmaceutical company that annou...
Mon, Mar 2 2015, 4:34 PM
Mortgage rates rose fairly sharply to begin the new month as a large corporate bond sale indirectly hurt the bonds that dictate mortgage rates. ...
Fri, Feb 27 2015, 7:34 AM
We're all a bit shaken up--us market watching types. Almost all of 2014 through January of 2015 was great, and now February has stuck out like a sore...
Fri, Feb 27 2015, 5:09 PM
Mortgage rates managed to scrape together modest gains for today's month-end session. In terms of the financial markets that dictate mortgage ...
Fri, Feb 27 2015, 4:59 PM
Very little has changed between now and the mid-day update (read that HERE if you like). To recap, bonds started the day roughly in line with yes...
Fri, Feb 27 2015, 1:06 PM
The last trading day of the month has managed to be a total let-down to anyone looking for excitement. In terms of doing no further harm , it's been...
Thu, Feb 26 2015, 11:41 AM
The day began on a strong note with US bond markets led higher in price by an even stronger overnight move in Germany. Following the mornings' econom...
Thu, Feb 26 2015, 7:34 AM
Domestic bond markets had been getting pummeled for exactly 3 weeks before getting a break on Tuesday. Then yesterday, they confirmed they're not goi...
Thu, Feb 26 2015, 6:44 PM
For being a day that followed 2 sessions of gains in a month where 2 sessions of gains is nearly unheard of, today got off to a great start . There ...
Thu, Feb 26 2015, 6:04 PM
Mortgage rates were slightly higher today, undoing the modest gains seen yesterday, but leaving the more significant drop from Tuesday intact. ...
Wed, Feb 25 2015, 12:59 PM
Although there was a brief move to the lows of the day just after the noon hour, MBS have been doing a fine job of holding almost all of the gains fro...
Wed, Feb 25 2015, 7:34 AM
The answer to the question posed in the headline is "yes," both Yellen and Greece are moving markets. Unfortunately for the more traditional thinke...
Wed, Feb 25 2015, 5:44 PM
There are few situations that warrant more happiness or relief over what turned out to be a merely flat trading session in bond markets. Reason be...
Wed, Feb 25 2015, 4:04 PM
Mortgage rates had a bad Valentines Day. It's not that anything happened on that Saturday. Indeed, lenders weren't even open. It's just that t...
Tue, Feb 24 2015, 7:33 AM
The Fed Chair's semi-annual congressional testimonies are always a hoot. That's where we get to see a delightful mix of politicians read what some ...
Tue, Feb 24 2015, 5:30 PM
If today wasn't a record in terms of positive reprice reports from MBS Live users, it was right up there. 44 have come through as yet, and it's n...
Tue, Feb 24 2015, 4:40 PM
Mortgage rates had their best day of the month today following Fed Chair Yellen's testimony before the Senate Banking Committee. That's part...
Tue, Feb 24 2015, 1:18 PM
There are a lot of moving parts to today's movement, and most of them working in synergy to benefit bond markets. The day began with Greece getting t...
Mon, Feb 23 2015, 12:58 PM
Despite Friday's volatile move into weaker territory, recent bond market trading decisions have been surprisingly logical. Arguably, we saw Friday ...
Mon, Feb 23 2015, 7:33 AM
The current week begins with what may amount to some simple housekeeping for the Eurozone as Greece submits the list of reforms it's been working on o...
Mon, Feb 23 2015, 5:15 PM
Perhaps the headlines did too good of a job of selling Friday's Greek news as something more definitive than it was. After all, most headlines were s...
Mon, Feb 23 2015, 4:32 PM
Mortgage rates ended the day in almost perfectly unchanged territory versus Friday's despite trading levels improving in the secondary mortgage...
Fri, Feb 20 2015, 12:21 PM
Did you catch the Day Ahead? It turned out to be pretty timely . Here it is if you need it:
MBS Day Ahead: Europe no Longer Fears Dominoes; Up...
Fri, Feb 20 2015, 7:32 AM
Things began to change in the Eurozone in 2013. That was when Cyprus and Italy were providing mild aftershocks following the bigger drama in 2010-2...
Fri, Feb 20 2015, 5:58 PM
I will have to be careful with how emphatically I convey today's volatility to friends and family. Anyone who doesn't follow markets as closely would...
Fri, Feb 20 2015, 4:51 PM
Mortgage rates are ending the day in very similar territory to yesterday's latest levels but have had something of a wild ride between now and ...
Thu, Feb 19 2015, 7:34 AM
No, yesterday's FOMC Minutes weren't enough to change the fate of bond markets in and of themselves. They weren't even enough to get bond markets bac...
Thu, Feb 19 2015, 6:16 PM
When you get an instantaneous 7bp rally in 10yr yields following an FOMC communication, only to immediately bounce on the preexisting trendline and co...
Thu, Feb 19 2015, 5:10 PM
Mortgage rates didn't move much today on average, but some lenders were noticeably better or worse compared to yesterday. It's not that they wer...
Thu, Feb 19 2015, 1:24 PM
An 'inside day' refers to today's trading range happening completely INSIDE yesterday's trading range. The resulting lower-highs and higher lows be...
Wed, Feb 18 2015, 12:36 PM
What a quiet day it's been so far! Today's noncommittal sideways grind is the polar opposite of yesterday's steam-roller. This wasn't necessarily ...
Wed, Feb 18 2015, 6:18 PM
It was a nice, simple day as far as market watching was concerned. The overnight session was straightforward, with initial weakness driven by Eurozon...
Wed, Feb 18 2015, 5:09 PM
Mortgage rates caught a bit of break today, logging the first meaningful improvements in the entire month of February. The gains weren't much ...
Wed, Feb 18 2015, 3:07 PM
This afternoon's release of the Minutes from the most recent FOMC meeting make sense. They're filled with exactly the sort of stuff markets expec...
Wed, Feb 18 2015, 1:35 AM
The US version of 2015's massive bond market movement doesn't make for very riveting analysis. It's not the sort of thing that will be very satisfyin...
Tue, Feb 17 2015, 7:32 AM
The annoying sideways grind in bond markets will continue until we see whether or not Greece ends up leaving the EU. The EU doesn't want that and nei...
Tue, Feb 17 2015, 5:41 PM
This recap will largely be a reiteration of content from the Mid-Day article as there have been no material changes in fundamentals since then. In ge...
Tue, Feb 17 2015, 4:02 PM
Mortgage rates got hit hard today , rising at the fastest day-over-day pace since November 8th 2013. As of today, this also makes February th...
Tue, Feb 17 2015, 1:45 PM
On days like today, a majority of my time is devoted to staying on top of alerts and analysis for MBS Live . As such, this will be one of the few ...
Fri, Feb 13 2015, 7:32 AM
High-momentum trends can pause, reverse, or fizzle . More often than not, the early stages of all three of those options look exactly the same. It ...
Fri, Feb 13 2015, 4:36 PM
As expected/feared, the path of least resistance for bond markets has been that of weakness heading into the long weekend with big news waiting on the...
Fri, Feb 13 2015, 3:35 PM
Mortgage rates may have been feeling the love yesterday, but that now seems to have been a coincidental blip in the longer-term trend. Rates act...
Thu, Feb 12 2015, 12:51 PM
The overnight session was scary for bond markets as 10yr yields rose to test the 2.04 technical level. Interestingly enough, trading went dead flat...
Thu, Feb 12 2015, 7:32 AM
The news that keeps coming out of Europe is just too good not to have been scripted by some secret society of brilliant comedians. The dialogue betwe...
Thu, Feb 12 2015, 5:03 PM
Bond markets were at their best levels since Monday heading into today's 1pm 30yr Bond auction (MBS prices don't reflect that only because of the roll...
