Fri, Jun 15 2012, 8:33 AM
A few weeks back, we very reluctantly capitulated to conformity and used the term "Grexit" one time (potential Greece Euro-zone exit). It felt wrong....
Fri, Jun 15 2012, 5:18 PM
MBS Live : MBS Afternoon Market Summary
The most recent alert at 1:32pm effectively serves as the recap. So this is more of a recap of the...
Fri, Jun 15 2012, 1:51 PM
Mortgage Rates were noticeably lower today at some lenders and only slightly lower at others. The net effect is an average Best-Execution rate tha...
Thu, Jun 14 2012, 11:15 AM
MBS Live : MBS Morning Market Summary
The morning's data was mostly ignored, save for the short-lived initial bond market rally. Everythin...
Thu, Jun 14 2012, 4:18 PM
MBS Live : MBS Afternoon Market Summary
Not too much to say about what's going on here... In the longer term, trading ranges have been con...
Thu, Jun 14 2012, 3:37 PM
Mortgage Rates improved slightly today after rising somewhat yesterday. All in all, the movement was muted, and most of it served to narrow the g...
Thu, Jun 14 2012, 2:50 PM
Benchmark TSYs and rate sheet influential TBAs are continuing their consolidative
ways today.
I describe this behavior as the market " stori...
Wed, Jun 13 2012, 11:55 AM
MBS Live : MBS Morning Market Summary
Bond markets walked in the door in moderately weaker territory today, but firmed up following weaker...
Wed, Jun 13 2012, 8:26 AM
After the first two days of the week offered very little by way of data and events--a mostly uneventful 3yr Note Auction and a similarly unimportant I...
Wed, Jun 13 2012, 4:13 PM
MBS Live : MBS Afternoon Market Summary
Today was really Treasuries' time to shine. Even in the overnight session, 10's were doing much b...
Wed, Jun 13 2012, 3:40 PM
Mortgage Rates were unchanged to slightly higher today , but several lenders released improved rate sheets in the afternoon bringing them closer in ...
Tue, Jun 12 2012, 11:24 AM
MBS Live : MBS Morning Market Summary
Bad, Worse, Worst... That's how we'd characterize today's price action in MBS, Treasuries, and German Bu...
Tue, Jun 12 2012, 7:27 AM
Monday's economic calendar was completely blank, leaving markets to do what they likely would have done anyway, which was to trade the Spanish bailout...
Tue, Jun 12 2012, 4:41 PM
MBS Live : MBS Afternoon Market Summary
Today had a very "weird" feel to it, for lack of a better term. A lot of the price action, in Trea...
Tue, Jun 12 2012, 3:07 PM
Mortgage Rates moved slightly higher again today , but the amount of the change from lender to lender depends on whether or not they released a nega...
Mon, Jun 11 2012, 11:23 AM
MBS Live : MBS Morning Market Summary
Risk markets loved the news of the weekend Spanish bailout in the first few, low volume hours of the ...
Mon, Jun 11 2012, 7:57 AM
Bond markets are off to a significantly weaker start in Asian trading hours after Eurozone officials held a scheduled conference call on Saturday to d...
Mon, Jun 11 2012, 4:13 PM
MBS Live : MBS Afternoon Market Summary
After the first few hours of global trading this morning, we observed the 10yr yields trading in th...
Mon, Jun 11 2012, 3:25 PM
Mortgage Rates held steady to slightly weaker today , though some lenders recalled rate sheets in the afternoon as bond markets improved. That help...
Fri, Jun 8 2012, 11:20 AM
MBS Live : MBS Morning Market Summary
MBS and Treasuries came into today's domestic session in relatively stronger territory thanks to Euro...
Fri, Jun 8 2012, 7:03 AM
Each of Friday's scheduled events ostensibly have less market moving potency than yesterday's Bernanke testimony. We can't really confirm that po...
Fri, Jun 8 2012, 4:19 PM
MBS Live : MBS Afternoon Market Summary
The day began well for bond markets for reasons that often lead to bonds doing well, namely that
...
Fri, Jun 8 2012, 2:03 PM
Mortgage Rates continued to improve today , though some lenders recalled rate sheets in the afternoon as bond markets moved higher in yield. Even s...
Thu, Jun 7 2012, 12:13 AM
A bit of a break from the recent norm today as the primary market-moving event is relatively clear and actually occurs during the domestic session. T...
Thu, Jun 7 2012, 11:21 AM
MBS Live : MBS Morning Market Summary
We've reached the focal point of the day in the form of the question and answer session from Bernanke...
Thu, Jun 7 2012, 4:13 PM
MBS Live : MBS Afternoon Market Summary
Markets pretty much got no more and no less than they expected from the Fed Chairman today, and trading ...
Thu, Jun 7 2012, 3:07 PM
Mortgage Rates erased yesterday's losses today, moving lower to fall in line with Tuesday's levels. This ends a rather abrupt 3-day rise from the ...
Wed, Jun 6 2012, 11:21 AM
MBS Live : MBS Morning Market Summary
As can be seen in the alerts below, bond markets initially improved during ECB Pres Mario Draghi's pr...
Wed, Jun 6 2012, 8:23 AM
While the day ahead does indeed include a greater number of Fed speakers--all of whom are FOMC voters and speaking mostly during open market hours (y'...
Wed, Jun 6 2012, 4:40 PM
MBS Live : MBS Afternoon Market Summary
Despite a hefty dose of volatility, it could be worse for MBS... They could have been Treasuries to...
Wed, Jun 6 2012, 3:21 PM
Mortgage Rates moved higher again today , capping a 3 day run into significantly weaker territory. While noticeably higher over that time, Friday's...
Wed, Jun 6 2012, 2:31 PM
The impressive rally in the bond markets has pushed the 10-year yield to all-time lows, and MBS prices to record high levels. Front-month prices of F...
Tue, Jun 5 2012, 11:28 AM
MBS Live : MBS Morning Market Summary
It's a "tale of two pivots" so far today for MBS and Treasuries alike. 10's have bounced incessantly...
Tue, Jun 5 2012, 7:56 AM
Monday was relatively frustrating in the sense that MBS markets were moving--mostly down--and without the normal level of correlation to news/data and...
Tue, Jun 5 2012, 4:23 PM
MBS Live : MBS Afternoon Market Summary
With the exception of some late-day, low volume leakage in Treasuries, both they and MBS put in the...
Tue, Jun 5 2012, 3:58 PM
Mortgage Rates continued upward today , this time at a slightly faster pace than yesterday. That said, the day-over-day change would have much to d...
Mon, Jun 4 2012, 11:24 AM
MBS Live : MBS Morning Market Summary
Bond markets opened in relatively weaker territory, but have been chopping around in a mostly sideways, but...
Mon, Jun 4 2012, 4:18 PM
MBS Live : MBS Afternoon Market Summary
MBS faced challenges on both sides of the coin today, and all things considered, held their ground fairly...
Mon, Jun 4 2012, 2:40 PM
Mortgage Rates rose slightly to begin the week after hitting new all-time lows last Friday. Today's rates weren't much worse, and Best-Execution ...
Sun, Jun 3 2012, 5:06 PM
This week's calendar is an almost perfect complement to Friday's mega rally on the weak Jobs report. As we said heading into Friday (read it here ),...
Fri, Jun 1 2012, 11:17 AM
MBS Live : MBS Morning Market Summary
All things considered, there really hasn't been too much of a knee jerk reaction to this morning's jo...
Fri, Jun 1 2012, 9:48 AM
Normally, the recap of the morning's economic data comes out in the MBS Mid-Day commentary shortly after 11am, and while most of the data below will ...
Fri, Jun 1 2012, 8:07 AM
If the two key considerations for bond markets these days are Europe and FOMC Policy, and if the first three days of the week favored one over the oth...
Fri, Jun 1 2012, 4:10 PM
MBS Live : MBS Afternoon Market Summary
Today was the day we'd reserved for paying attention to domestic economic data in lieu of all the E...
Fri, Jun 1 2012, 2:51 PM
Mortgage Rates fell decidedly to new all-time lows today after a much weaker-than-expected Employment Situation Report. Because of today's moveme...
Thu, May 31 2012, 11:41 AM
MBS Live : MBS Morning Market Summary
Rather than stand out as one of those examples of "a major headline event causing a major, sudden shift" i...
Thu, May 31 2012, 4:36 PM
MBS Live : MBS Afternoon Market Summary
In an earlier alert at 2:02pm, we postulated that the rest of the trading day may be some sort of ...
Thu, May 31 2012, 2:48 PM
Mortgage Rates improved again today as domestic economic data joined with ongoing fear of a European currency collapse to send US Treasury yields w...
Wed, May 30 2012, 11:26 AM
MBS Live: MBS Morning Market Summary MBS and, to a greater extent, Treasuries have been off to the races this morning where the latter is currently t...
Wed, May 30 2012, 11:21 PM
Wednesday was quite a day for bond markets--a record-setting day on many fronts. While we can appreciate that there are some claims that 10yr Yields ...
