Fri, Apr 5 2013, 4:20 PM
By now, it's clear that 3 days of bad employment data gave MBS a big
boost this week, but if it feels like there's more to it than that,
there is....
Fri, Apr 5 2013, 4:10 PM
Mortgage rates fell hard today, further
extending an already impressive move lower over the course of the week.
Improvements accelerated throu...
Thu, Apr 4 2013, 12:20 PM
MBS Live : MBS Morning Market Summary
++INSERT COMMENTARY HERE++
MBS Pricing Snapshot
Pricing shown below is delayed, please note...
Thu, Apr 4 2013, 8:05 AM
Yesterday, we began by pondering whether or not the ADP Payrolls or ISM Non-Manufacturing data would "break the monotony" that had, thus far, pervaded...
Thu, Apr 4 2013, 4:41 PM
The bad employment numbers
keep on coming and the good times keep on rolling for bond markets.
Specifically, MBS tightened vs Treasuries in a BIG w...
Thu, Apr 4 2013, 3:39 PM
Mortgage rates continued moving significantly lower today, extending a rally that brought them to their best levels in a month yesterday. Because ...
Wed, Apr 3 2013, 12:14 PM
For the most part, this morning's price action in MBS and Treasuries would be best characterized as a healthy rally, but as we postulated in the most ...
Wed, Apr 3 2013, 7:01 AM
Whereas Monday required some level of qualification and explanation to be considered an extremely flat session, Tuesday asked for no such consideratio...
Wed, Apr 3 2013, 4:41 PM
Today's DOMESTIC data-driven rally has definitely looked the part of "endangered species" over the past few years and especially in the past two w...
Wed, Apr 3 2013, 3:32 PM
Mortgage rates improved at their fastest pace in a week, bringing
most lenders' rate sheet offerings to their best levels since the first few
...
Tue, Apr 2 2013, 11:45 AM
Mortgage markets have done almost admirable job of holding their ground against what has been an almost admirable risk rally in Europe. Why only "alm...
Tue, Apr 2 2013, 7:20 AM
Monday's opener left a lot to be desired in terms of activity, but made up for it by being a solid day for MBS specifically. Treasuries caught a bi...
Tue, Apr 2 2013, 4:11 PM
Most of today's detectable movement was seen in the overnight session as European markets got back to work after 4 days off. Treasuries actually ralli...
Tue, Apr 2 2013, 2:55 PM
Mortgage rates held steady or improved slightly today in MOST cases, though this isn't true for every lender. The day itself was flat and uneventf...
Mon, Apr 1 2013, 11:54 AM
The absence of European trading and headlines makes for an extremely quiet session today in terms of volume and the pace of events that require respon...
Mon, Apr 1 2013, 8:07 AM
With the failure to make any meaningful progress last week, the 2013 version of Italy's political crisis has come to a head. On the same day that U...
Mon, Apr 1 2013, 4:18 PM
To reiterate that which has already been said, today's price movements in MBS belied the level of activity in bond markets. While MBS weren't quite as...
Mon, Apr 1 2013, 3:29 PM
Mortgage rates improved slightly today, helped along by a weak manufacturing data on an otherwise quiet day. Had it not been for that report at 10...
Thu, Mar 28 2013, 11:25 AM
Although bond markets have been far from completely flat--in fact there was a solid 4bp swing in 10yr Treasuries overnight--both MBS and Treasuries ar...
Thu, Mar 28 2013, 7:47 AM
Today should be interesting to say the least. As is frustratingly the case on days where the biggest potential market movement is reserved for Eu...
Thu, Mar 28 2013, 4:37 PM
Today was an uncommon combination of strong volume and insanely contained price ranges. It's not a frequent occurrence and even less so outside quart...
Thu, Mar 28 2013, 1:55 PM
Mortgage rates moved gently higher today, but levels were close enough to unchanged that several lenders were either in line with yesterday's rates...
Wed, Mar 27 2013, 12:01 PM
MBS and Treasuries have come off their best levels of the morning just slightly, but remain in significantly better territory vs yesterday's latest le...
Wed, Mar 27 2013, 8:07 AM
With the benefit of one additional day having transpired in this, the "Cyprus Bailout Week," we're quickly seeing that Cyprus-related trading fluctuat...
Wed, Mar 27 2013, 5:27 PM
The domestic hours, like so many past examples, turned out to be relatively contained by the time European markets had their say. This time, they sai...
Wed, Mar 27 2013, 4:13 PM
Mortgage rates moved lower today at their fastest pace in more than a week, bringing them in line with their lowest levels since last week's Cyprus...
Tue, Mar 26 2013, 12:00 PM
Something remarkable has happened. Well, it's remarkable relative to the recent trend of shunning domestic economic data in favor of European headlin...
Tue, Mar 26 2013, 7:27 AM
Monday saw MBS and Treasuries both end up at levels very close to Friday's close. In and of itself, that suggests the day was uneventful and sideways...
Tue, Mar 26 2013, 5:08 PM
Bond markets started out the session heading into weaker territory after a tepid, but moderately positive overnight session for European risk markets....
Tue, Mar 26 2013, 2:22 PM
Mortgage rates moved slightly higher today on average, though a few lenders were unchanged or marginally improved. Some released positively revise...
Mon, Mar 25 2013, 12:03 PM
Global markets reacted in a relatively predictable fashion following news late Sunday that Cyprus and the EU had reached a bailout agreement. Treasur...
Mon, Mar 25 2013, 7:42 AM
Without any significant scheduled economic data, Monday provides an ideal opportunity to let European headline risk play out after a tentative Cyprus...
Mon, Mar 25 2013, 5:03 PM
There was a sense at the end of last week, looking back over the regular sideways trading patterns in bond markets, that we'd "been had," in a way. W...
Mon, Mar 25 2013, 3:38 PM
Mortgage rates were, once again, unchanged in many cases today, though some lenders were slightly lower in cost than Friday's latest offerings. Tr...
Fri, Mar 22 2013, 12:08 PM
From a market watching standpoint, today has been an example of one of the least stressful "headline risk" environments. Indeed, markets are highly r...
Fri, Mar 22 2013, 7:40 AM
Imagine riding a bike, or an equivalent rote gross motor activity involving the navigation of a certain path. In this example, we'll use the bike. N...
Fri, Mar 22 2013, 4:58 PM
MBS Live : MBS Afternoon Market Summary
++INSERT COMMENTARY HERE++
MBS Pricing Snapshot
Pricing shown below is delayed, please no...
Fri, Mar 22 2013, 2:37 PM
Mortgage rates were very close to unchanged today, though some lenders were in microscopically better territory than yesterday. Underlying market ...
Thu, Mar 21 2013, 12:45 PM
The overnight and domestic bumper crops of economic data were fairly uneventful in the a super-zoomed frame of reference and utterly flat in the bigge...
Thu, Mar 21 2013, 7:37 AM
Thursday brings the most robust day of economic data of the week by far. There are Markit Purchasing Manager's Indexes all across the Eurozone during...
Thu, Mar 21 2013, 4:40 PM
This stuff is like candy! Markets just can't get enough of the endless barrage of Cyprus-related headlines. It hearkens back to the heady days of Gr...
Thu, Mar 21 2013, 3:47 PM
Mortgage rates moved gently higher today in what was more of an extension of yesterday afternoon's mortgage market weakness than anything to do wit...
Wed, Mar 20 2013, 12:07 PM
There's been a bit of a lull in the action so far today--as one might reasonably expect given the upcoming FOMC Announcement, Forecasts, and press con...
Wed, Mar 20 2013, 7:03 AM
Another day, another chance to sit and wait for every little headline even remotely related to Europe and to assess whether or not it suggests a chang...
Wed, Mar 20 2013, 4:44 PM
Mortgage rates moved higher today for the first time in nearly two weeks. Although the changes in lenders' rate sheets versus yesterday were large...
Wed, Mar 20 2013, 4:28 PM
Almost all day long, markets did almost nothing, almost... Bond markets coped with an adjustment lower in price/higher in yield heading into the dome...
Wed, Mar 20 2013, 2:03 PM
Information received since the Federal Open Market Committee met in January suggests a return to moderate economic growth following a pause late last ...
Tue, Mar 19 2013, 12:06 PM
Domestic bond markets edged back into territory not seen since the week of the Italian election--the last major bullish event for Treasuries and MBS. ...
Tue, Mar 19 2013, 7:26 AM
Heading into a week expected to be more focused on Wednesday's FOMC Announcement, press conference, and updated forecasts, we instead got treated to t...
Tue, Mar 19 2013, 4:28 PM
Headlines concerning the Cyprus bailout and it's various components streamed in at a healthy clip almost all day. As such, bond markets rallied almos...
