Mon, May 12 2014, 7:51 AM
Over the weekend, events that have been labelled by some as 'referendums' took place in several of the most embattled regions in Ukraine. Not surpris...
Mon, May 12 2014, 4:25 PM
Compared to the 9 ticks of price weakness in 10yr Treasuries (+3.1 bps), Fannie 3.5 MBS were only off 5 ticks and Fannie 4.0s just 3 ticks in the fina...
Mon, May 12 2014, 2:13 PM
Mortgage rates continued higher
today, adding to the corrective rebound from last week's 6-month lows.
There were no significant events or n...
Fri, May 9 2014, 11:58 AM
Bond markets are just slightly weaker, and have thus far been doing a decent job of keeping those losses contained. There hasn't been much by way of '...
Fri, May 9 2014, 7:42 AM
First thing's first: "mortgage rates" themselves, have clearly already broken the 2014 range, having moved into the best levels since late October o...
Fri, May 9 2014, 3:11 PM
The focus of the week for MBS and rates should be on the fact that we made it to levels not seen since the end of October 2013. With 6 out of the la...
Fri, May 9 2014, 2:02 PM
Mortgage rates
rose today, pulling back just slightly after spending 6 of the last 7
days in an aggressive move to the lowest levels in more th...
Thu, May 8 2014, 12:01 PM
Europe and the US serenaded each other this morning with a hot rendition of "Dueling Bankers." Not to be confused with dueling banjos, this song feat...
Thu, May 8 2014, 7:42 AM
Thursday is probably the most action-packed day of the week for MBS. It gets most of the way there by being a fairly action-packed day for bond marke...
Thu, May 8 2014, 4:40 PM
Right from the outset, seemingly strange things were happening as 10yr yields looked much higher on charts, yet were reported as being slightly lower ...
Thu, May 8 2014, 3:15 PM
Mortgage rates added just slightly
to yesterday's improvements, inching just a bit lower into the best
levels in more than 6 months. The bon...
Wed, May 7 2014, 12:40 PM
Bond markets have been slightly more active today both in terms of volume and volatility. Overnight trading was essentially a wash. 10yr yields were...
Wed, May 7 2014, 7:42 AM
Bond markets put in another strong day yesterday, returning to the strongest end of their respective ranges after losing just a bit of ground to start...
Wed, May 7 2014, 4:07 PM
Bond began the first few minutes of the day in slightly weaker shape, but ended the day in positive territory after Yellen's congressional testimony a...
Wed, May 7 2014, 3:15 PM
Mortgage rates continued pushing
into the lowest levels in more than 6 months after a docile
congressional testimony from Fed Chair Yellen th...
Tue, May 6 2014, 11:02 AM
So far this week, stocks and bonds have generally been moving together again after a bit of disconnection last week. Equities futures fell graduall...
Tue, May 6 2014, 8:00 AM
There was a Bloomberg article out on Sunday night that quickly made rounds in financial markets and among market watchers. It isn't 'in your face...
Tue, May 6 2014, 4:19 PM
Calmly and coolly, MBS marched to the best levels of the year this afternoon, and for no particular reason as far as today's events were concerned. ...
Tue, May 6 2014, 3:36 PM
Mortgage rates
fell back to their lowest levels of 2014, with most lenders in similar
territory to last Friday. Market movement was moderate, ...
Mon, May 5 2014, 11:45 AM
Bond markets have been fairly calm this morning, even if slightly weaker after the ISM Non-Manufacturing data (aka ISM Services). Before that, ther...
Mon, May 5 2014, 7:54 AM
Last week ended in ground-breaking fashion with bond markets clawing into positive territory despite a substantially better-than-expected Employment S...
Mon, May 5 2014, 4:15 PM
After Friday's orgiastic frenzy of bet-making and profit taking, bond markets sat back in their seats and abstained today. In poker terms, this is a ...
Mon, May 5 2014, 3:35 PM
Mortgage rates
move up just slightly today, after hitting the lowest levels in 6
months at the end of last week. Some lenders who didn't get t...
Fri, May 2 2014, 12:17 PM
This has been one of the craziest NFP mornings I can remember--probably THE single most paradoxical reaction at first glance. Granted, bond markets...
Fri, May 2 2014, 7:42 AM
Unless you're just looking at the recent behavior in interest rates for the first time in months, you're well-aware that they've been stuck in a range...
Fri, May 2 2014, 3:41 PM
In looking at yesterday's activity in bond markets, we could see some level of determination to rally regardless of the incoming economic data. The c...
Fri, May 2 2014, 2:26 PM
Mortgage rates
and many other areas of financial markets moved in shockingly
counterintuitive ways after today's big jobs report. Nonfarm payr...
Thu, May 1 2014, 12:02 PM
10yr yields had been careful to avoid dipping below yesterday's latest levels until after all of this morning's data was out of the way. Once it was,...
Thu, May 1 2014, 7:38 AM
There's no way to be excited about bond markets right now! That is, unless you want to be excited about the fact that things are making great sense...
Thu, May 1 2014, 4:03 PM
Bond markets had a great day today, but the greatness isn't entirely logical ( ironic headline choice this AM , no? ). While there was some economic...
Thu, May 1 2014, 3:12 PM
Mortgage rates fell at the fastest pace in over a month today
bringing them to their lowest levels since early February. The
motivation for ...
Wed, Apr 30 2014, 11:04 AM
The blue line is stocks; yellow is 10yr yields. When we see a chart like this on the last 2.5 days of the month-- ESPECIALLY when the recent norm has...
Wed, Apr 30 2014, 7:18 AM
As a quarterly report with monthly updates, GDP releases are slightly different from month to month. The order is: advance, preliminary, and final. ...
Wed, Apr 30 2014, 3:54 PM
Heading into the last hour of trading on this all-star day, bond markets have moved at a fairly average pace, albeit in rate-friendly directions. The...
Wed, Apr 30 2014, 3:27 PM
Mortgage rates fell at a solid pace
today following a reading on 1st Quarter GDP that was much weaker than
expected. Downbeat economic data ...
Wed, Apr 30 2014, 1:59 PM
Information received since the Federal Open Market Committee met
in March indicates that growth in economic activity has picked up
recently, after...
Tue, Apr 29 2014, 12:16 PM
The overnight session was nominally weaker for Treasuries, but there was limited activity overall as Japan (the key participant in US Treasuries durin...
Tue, Apr 29 2014, 7:48 AM
To be perfectly fair to financial markets, "things could get serious" at any moment really, it's just that the events that are more predisposed to bri...
Tue, Apr 29 2014, 3:34 PM
It was a generally quiet day for bond markets, though that wasn't destined to be the case at the open. Treasuries had weakened slightly overnight and...
Tue, Apr 29 2014, 2:23 PM
Mortgage rates were slightly higher today
as a result of bond market weakness late yesterday and again this
morning. Some of that weakness h...
Mon, Apr 28 2014, 11:47 AM
MBS are coping with the double-edged sword that is stronger housing data this morning. On the one hand, the decisive reversal of an 8-month slide in ...
Mon, Apr 28 2014, 7:39 AM
If calendar events like economic reports and monetary policy announcements end up being the impetus for bond markets to break out of their 3-Month sid...
Mon, Apr 28 2014, 3:23 PM
Bond markets were just slightly weaker overnight, with no major volatility or trading themes emerging. MBS walked in the door a bit weaker as a resul...
Mon, Apr 28 2014, 2:45 PM
Mortgage rates
held almost perfectly steady today, with a handful of lenders offering
slightly lower costs while others were slightly higher. ...
Fri, Apr 25 2014, 8:00 AM
Bond markets are "done" with this week. 10yr yields haven't spent more than one day without being on both sides of the fence at 2.70 this week, which...
Fri, Apr 25 2014, 3:37 PM
MBS saw their first trades of the day come in just a hair over yesterday's latest levels, which were also the best of the day. They never looked back...
Fri, Apr 25 2014, 2:44 PM
Mortgage rates
moved lower today, reaching their best levels of the week. Slumping
stocks and geopolitical concerns contributed to positivity ...
Thu, Apr 24 2014, 12:01 PM
Bond markets have had a volatile morning so far. Treasuries were slightly weaker overnight, resulting in lower opening levels in MBS. Both were weak...
Thu, Apr 24 2014, 8:00 AM
Bond markets continue to be relentlessly sideways. Just when Treasury yields were staging for their best chance at breaking out of a 3-month range-bi...
Thu, Apr 24 2014, 3:54 PM
For the second straight day, MBS are coasting toward the close having held a narrow 4/32nds range for most of the day, having seen little, if any thre...
