Tue, Aug 27 2013, 6:14 PM
Mortgage rates hit their lowest levels in nearly two weeks today . Conventional 30yr Fixed quotes for the most ideal scenarios ( best-execution ...
Tue, Aug 27 2013, 4:52 PM
MBS and Treasuries are both near their best levels after a day that
has
been almost exclusively positive thanks to the flight-to-safety
associat...
Mon, Aug 26 2013, 11:52 AM
So far today, we've seen one of the quietest, least-offensive post-data
rallies in recent memory. The overnight session set the stage for a
quiet...
Mon, Aug 26 2013, 6:58 AM
The week ahead is very different from the week past. Fed speakers
will be out in greater numbers and economic data arrives in abundance.
Top tha...
Mon, Aug 26 2013, 5:15 PM
Mortgage rates continued lower today
after a weaker-than-expected economic report this morning from the
manufacturing sector. Not only does w...
Mon, Aug 26 2013, 5:02 PM
This morning's weaker-than-expected Durable Goods numbers started the
day off positively for MBS and Treasuries. MBS especially were solid
all da...
Fri, Aug 23 2013, 11:29 AM
While there was a normal amount of overnight trading and volatility,
none of it really matters considering bond markets were near unchanged
levels...
Fri, Aug 23 2013, 5:25 PM
Mortgage rates shot significantly lower today
after the New Home Sales report showed far fewer executed purchases
contracts than expected for ...
Fri, Aug 23 2013, 4:52 PM
Weaker-than-expected New Home Sales data threw bond markets for a
loop today. There was essentially no data on tap this whole week, with
the exce...
Fri, Aug 23 2013, 1:22 AM
I once read that if the title of an article is phrased in the form of
a question that the answer is "no"--something to do with an author
that's no...
Thu, Aug 22 2013, 11:26 AM
MBS are in slightly positive territory for now, but advancing to
anything more triumphant has proven quite challenging so far. Fannie
4.0s saw th...
Thu, Aug 22 2013, 7:37 AM
What would an uneventful reaction to today's Jobless Claims data tell
us? Quite a lot actually. Considering that last week's Claims data
was the...
Thu, Aug 22 2013, 5:31 PM
Mortgage rates were higher again today ,
extending yesterday's movement following the FOMC Minutes. This
morning's Jobless Claims report showe...
Thu, Aug 22 2013, 4:51 PM
Looking at today's trading activity in MBS in the context of recent
movement gives the impression that it was the sideways (but potentially
suppor...
Wed, Aug 21 2013, 11:29 AM
The overnight session was shockingly docile for Treasuries, with 10yr
yields staying super-glued to the 2.81-2.84 range before entering
domestic s...
Wed, Aug 21 2013, 7:00 AM
After The first two days of the week offered a fairly large sell-off and
an equally large rally for bond markets--all against the backdrop of NO da...
Wed, Aug 21 2013, 5:15 PM
Mortgage rates rose moderately
following today's release of Minutes from the July 31st FOMC Meeting.
There was no meaningful new information,...
Wed, Aug 21 2013, 4:54 PM
The best thing that bond markets (and stocks too, for that matter)
could have hoped for from today's FOMC Minutes would have been a
fractured Fed ...
Tue, Aug 20 2013, 11:26 AM
Today's story is a fairly simple one. It relies on the prologue that
bond market momentum has been decidedly skewed toward the weak side for
at l...
Tue, Aug 20 2013, 7:06 AM
At least tomorrow morning there will be something substantive coming up
during the course of the day to discuss with anticipation. Until then,
we...
Tue, Aug 20 2013, 5:26 PM
Bond markets had a tremendously strong overnight session with solid
gains and big volume. Whether this had anything to do with the actual
events ...
Tue, Aug 20 2013, 3:42 PM
Mortgage rates moved lower today ,
recovering a good portion of yesterday's losses. There were no
significant economic events and much of the ...
Mon, Aug 19 2013, 11:24 AM
Against the backdrop of a silent data calendar, bond markets are on the
ropes. Both MBS and Treasuries have been grinding uncomfortably against
F...
Mon, Aug 19 2013, 7:29 AM
One of the most interesting things about last week was the phenomenon of
'status quo' data serving to inspire heavy selling in both stocks and
bon...
Mon, Aug 19 2013, 5:19 PM
Mortgage rates were convincingly higher today ,
continuing last week's move toward the levels not seen in over two
years. Those levels were re...
Mon, Aug 19 2013, 4:51 PM
Bond markets continued free-falling today, ostensibly searching for the
theoretical point at which a September 18th reduction in the Fed's asset
p...
Fri, Aug 16 2013, 9:00 PM
The balance of this week's economic data was unequivocally "not enough"
to remove the stench of September tapering from MBS and Treasuries. It
wa...
Fri, Aug 16 2013, 7:20 AM
Yesterday's post was generally a warning against viewing 2.74 as a 'ceiling' in 10yr yields ( read it here ).
That gives us the opportunity to disc...
Fri, Aug 16 2013, 5:42 PM
Mortgage rates rose sharply again today , with best-execution up to 4.75 in
most cases, after another round of economic data failed to conv...
Fri, Aug 16 2013, 2:23 PM
Please note the timestamp on the pricing snapshot below. This mid-day
recap can occasionally be delayed if we're working on alerts and
interactio...
Thu, Aug 15 2013, 7:14 AM
So far this week, Monday has shown us that bond markets were considering
getting back in the swing of things after a dull week past. Tuesday
conf...
Thu, Aug 15 2013, 5:12 PM
Mortgage rates rose sharply today ,
after the large batch of economic data did nothing to suggest the Fed
will move any slower to reduce their ...
Thu, Aug 15 2013, 4:54 PM
Bond markets continue to adhere to the notion that near term economic
data is fantastically important in honing in on a target date for
tapering. ...
Wed, Aug 14 2013, 12:38 PM
Today was well-scripted in the sense that it offered little by way of actionable data
compared to yesterday and tomorrow. Trading activity has been...
Wed, Aug 14 2013, 7:15 AM
Yesterday's sell-off was a bit of wake-up call for anyone lulled into
a false sense of security by last week's tepidity or their crystal
ball's t...
Wed, Aug 14 2013, 4:56 PM
Mortgage rates leveled off today ,
after moving abruptly higher on Tuesday. Bond markets, including MBS
(the mortgage-backed-securities that m...
Wed, Aug 14 2013, 4:30 PM
In stark contrast to yesterday's session, volume and volatility were nowhere to be found today. MBS and Treasuries entered the domestic session right...
Tue, Aug 13 2013, 7:03 AM
Last week was one of those perfectly slow weeks that looked like it
would be slow ahead of time and didn't disappoint. It was also "Shark
Week" o...
Tue, Aug 13 2013, 4:35 PM
After maligning last week's lack of excitement, bond market bulls would
be happy to have it back after today's sell-off. We were expecting more
v...
Tue, Aug 13 2013, 3:09 PM
Mortgage rates were abruptly higher today ,
moving back toward the highs of the month and erasing most of the
improvements seen since the Emplo...
Mon, Aug 12 2013, 11:57 AM
This morning's slowness was mostly to-be-expected. There's nothing on the calendar in terms of economic data until the afternoon and the report in qu...
Mon, Aug 12 2013, 7:29 AM
Coming off a week that was uneventful by any standard, the week ahead is notably different
in terms of its more robust economic data offerings. T...
Mon, Aug 12 2013, 5:03 PM
MBS Live : MBS Afternoon Market Summary
++INSERT COMMENTARY HERE++
MBS Pricing Snapshot
Pricing shown below is delayed, please no...
Mon, Aug 12 2013, 3:55 PM
Mortgage rates began the day in much better
shape compared to Friday's latest offerings, but market volatility in
the afternoon prompted most ...
Fri, Aug 9 2013, 12:22 PM
Volume and volatility were exceptionally light in the overnight session
with Treasuries holding flat during Asian hours, rallying during European ho...
Fri, Aug 9 2013, 7:50 AM
Last night was Class A Settlement for MBS--aka " the roll ." If
the roll causes any confusion (pretty normal), try thinking of it like
an assembl...
Fri, Aug 9 2013, 5:14 PM
Nothing at all happened today. There were no significant market moving
events. Data didn't matter--or at least no one cared to trade it
today. ...
Fri, Aug 9 2013, 3:21 PM
Mortgage rates moved lower for a third straight day ,
ending the week at their best levels. Rates are currently just shy of
July 23rd lows. W...
Thu, Aug 8 2013, 12:53 PM
Bond markets were initially stronger in the overnight session. Then
they were weaker. Then they were stronger again. The net effect is
that a l...
Thu, Aug 8 2013, 7:44 AM
There are fewer and fewer ways to express that the broader themes in
bond markets are in place and that this week not only looked like an
opportun...
