Fri, Feb 8 2013, 7:11 AM
Friday was probably already going to be a wild card, but it's made even more so due to the big, nasty snowstorm set to hit the east coast this mornin...
Fri, Feb 8 2013, 5:46 PM
Unlike the well-forecast storm in the northeast, movements in bond markets this morning were less well-telegraphed. That said, this morning's pre mar...
Fri, Feb 8 2013, 4:16 PM
Mortgage rates rose purposefully today, as mortgage-backed-securities (MBS) coped with tough trading conditions for a variety of reasons. Lenders ...
Thu, Feb 7 2013, 12:21 PM
Markets were apparently prepared for more economically bullish sentiments from ECB's Draghi this morning, or at least that's the superficial takeaway ...
Thu, Feb 7 2013, 7:43 AM
Heading into and out of the first Friday of most months, it's common to see volatility swell and ebb around the Employment Situation Report. Granted,...
Thu, Feb 7 2013, 4:44 PM
MBS were already having sort of a shaky day versus Treasuries, but had been doing a decent enough job of holding their ground until around 3pm. The r...
Thu, Feb 7 2013, 3:42 PM
Mortgage rates began the day in decent territory, with most lenders unchanged to slightly lower in cost vs yesterday. Trading in Mortgage-backed-s...
Wed, Feb 6 2013, 12:12 PM
Much like yesterday, today has been uncharacteristically slow in the context of recent volatility. Unfortunately, that slowness has served as the pla...
Wed, Feb 6 2013, 7:31 AM
Yesterday, the first thought we shared about the previous sessions was: "bond markets traded well on Monday." What a difference a day makes... Bon...
Wed, Feb 6 2013, 4:22 PM
Wax-on: solid gains throughout the day on Monday. Wax-off: gains mostly erased in Europe overnight on Tuesday. Wednesday, then, is "wax-on, risk-off"...
Wed, Feb 6 2013, 3:32 PM
Mortgage rates did a complete 180, for the second straight session. This reverses yesterday's rise in borrowing costs, taking them back in line w...
Tue, Feb 5 2013, 11:57 AM
MBS Live : MBS Morning Market Summary
++INSERT COMMENTARY HERE++
MBS Pricing Snapshot
Pricing shown below is delayed, please note...
Tue, Feb 5 2013, 6:06 AM
Bond markets traded well on Monday. In fact, 10 yr yields dropped more than any session since early November. Then again, they were starting out the...
Tue, Feb 5 2013, 5:08 PM
In the absence of heavy-hitting domestic considerations such as
last week's impressive slate of economic data and events (NFP, FOMC
Announcement...
Tue, Feb 5 2013, 2:15 PM
Mortgage rates did a complete 180, reversing yesterday's improvement , and taking rates back in line with recent highs. That sounds fairly ominous,...
Mon, Feb 4 2013, 11:42 AM
Bond markets began the day just barely in the green after a disconcerting overnight session. Things were more tenuous in the earlier morning hours wh...
Mon, Feb 4 2013, 7:02 AM
Last week was unpleasant for fans of low interest rates. We moved to multi month highs in mortgage and Treasury rates, spending the most time at " 2+...
Mon, Feb 4 2013, 4:37 PM
Perhaps less than coincidentally, the S&P just closed at it's lowest levels in more than a week on the same day that many lenders' rate sheets were at...
Mon, Feb 4 2013, 4:11 PM
Mortgage rates regained a good amount of lost ground today as most lenders' rate sheets were in line with or better than last week's rates. The ov...
Fri, Feb 1 2013, 12:59 PM
Please note the timestamp on the pricing snapshot below. Bond markets have sold off a fair amount since then, breaking through the 103-16 pivot in MB...
Fri, Feb 1 2013, 6:59 PM
If this, by some happy chance, is the first time today that you've looked at bond market activity, congratulations! Knowing that we were heading into...
Fri, Feb 1 2013, 6:10 PM
Mortgage rates were slightly higher in most cases today. The small differences between rates at the end of the day today versus yesterday don't ev...
Thu, Jan 31 2013, 12:03 PM
Bond markets coasted into the domestic session in marginally improved territory ahead of this morning's economic data. A look at the overnight tradin...
Thu, Jan 31 2013, 7:44 AM
Sometimes opening acts are surprisingly entertaining, or perhaps even moving. But more often than not, the headliner is what you came to see and the ...
Thu, Jan 31 2013, 7:32 AM
By the time we reach the Friday of an NFP week, there's little else left to say or do besides wait for 8:30am. That's made doubly true this week due ...
Thu, Jan 31 2013, 4:54 PM
Unlike some pre-NFP Thursdays, which start to exhibit some sort of "lead-off" in either direction, today's was poster child for "calm before the storm...
Thu, Jan 31 2013, 4:07 PM
Mortgage rates were very slightly lower in most cases, making for marginal improvements in borrowing costs within the confines of recently higher i...
Wed, Jan 30 2013, 12:03 PM
Bond markets had done a somewhat decent job of clawing back from overnight weakness by the time the domestic session got underway. The stronger-than-...
Wed, Jan 30 2013, 5:04 PM
It was quite the odd FOMC Announcement day... Here we were, planning on the week's biggest TWO events being today's FOMC Announcement and Friday's NF...
Wed, Jan 30 2013, 4:07 PM
Mortgage rates began the day at broadly higher levels, as bond markets moved higher in yield overnight and again after the morning's economic data...
Wed, Jan 30 2013, 2:20 PM
Information received since the Federal Open Market Committee met in December suggests that growth in economic activity paused in recent months, in lar...
Tue, Jan 29 2013, 7:44 AM
Yesterday we noted that it was " almost an insult " to look out on the day ahead in terms of the events on the calendar when tradeflows and technica...
Tue, Jan 29 2013, 7:07 AM
10yr yields breaking above 2.0% was a concern for MBS market participants because of the way they adjust their portfolios to account for anticipated d...
Tue, Jan 29 2013, 6:30 PM
Whether or not we agree that the " Great Rotation " will continue to, well... rotate, its inherent themes have been playing out in markets daily. Tod...
Tue, Jan 29 2013, 4:37 PM
Mortgage rates began the day much improved compared to Monday's latest offerings, but the gains mostly evaporated by the end of the session. The m...
Tue, Jan 29 2013, 1:19 PM
MBS Live : MBS Morning Market Summary
Treasuries were slightly weaker during the first part of the overnight session, but stayed under Mond...
Mon, Jan 28 2013, 11:46 AM
The only thing we can be sure of at the moment is that bond markets are in weaker territory. They were weaker overnight. They were incrementally wea...
Mon, Jan 28 2013, 7:49 AM
For bond markets, and even markets in general, things don't get much busier than they will be this week in terms of economic data, potential market mo...
Mon, Jan 28 2013, 4:26 PM
Bond markets began the session in incrementally weaker territory than Friday afternoon after having held mostly steady in Europe and Asia. Bigger mov...
Mon, Jan 28 2013, 2:26 PM
Mortgage rates moved sharply higher again on Monday, in a continuation of Friday's aggressive weakness ( Get Caught Up With Friday's Big Moves ...
Fri, Jan 25 2013, 12:06 PM
As opposed to one of those enigmatic trading days where MBS and Treasuries are moving rapidly in either direction without clearly being associated to ...
Fri, Jan 25 2013, 7:06 AM
Two Thursdays in a row have offered downside surprises for Jobless Claims, resulting in downside days for bond markets. It wasn't the end of the worl...
Fri, Jan 25 2013, 4:49 PM
Overnight, the ECB reported on the LTRO repayments for the first time since handing out the cheap 3-yr loans in late 2011. It turns out more than hal...
Fri, Jan 25 2013, 2:30 PM
Mortgage rates skyrocketed to their highest levels since August on Friday, both as a part of an ongoing move higher that began yesterday and more ...
Thu, Jan 24 2013, 12:03 PM
Sadly, our preoccupation with the "one week anniversary" of last week's Jobless Claims sell-off, turned out to be somewhat prophetic this morning as w...
Thu, Jan 24 2013, 7:42 AM
Last Thursday was the worst day for bond markets since the first trading day of 2013, when markets were reacting to Fiscal Cliff developments after a ...
Thu, Jan 24 2013, 4:28 PM
There was a chart in the morning commentary ( THIS one, actually) that showed a long term downtrend in MBS prices as well as a few horizontal levels....
Thu, Jan 24 2013, 3:27 PM
Mortgage rates bounced back from a few days of moderate improvements today. Lenders typically don't release their first rate sheets of the day ...
Wed, Jan 23 2013, 12:13 PM
After improving moderately in the overnight session, there hasn't been much by way of major market-moving data. The morning's only scheduled econ--FH...
Wed, Jan 23 2013, 7:31 AM
Strange things are happening in Washington, or at least that's what we're meant to believe. If the Fiscal Cliff debate was any indication, then we we...
