Tue, Mar 10 2015, 7:34 AM
It ended up being interesting that the focus of yesterday's Week Ahead was the absence of data leaving us with a less obstructed view of traders' inte...
Tue, Mar 10 2015, 5:29 PM
First, a quick point of order: remember that tonight is "the roll" for Fannie and Freddie 30yr Fixed MBS. That means March coupons will stop tradin...
Mon, Mar 9 2015, 12:59 PM
It's hard to know where to start discussing today's market activity, largely because today's market activity never really started . Ever since t...
Mon, Mar 9 2015, 7:33 AM
Over the years, I've frequently gone back to the "limited data" theme on certain weeks where there is--well... limited data. The reason to mention/di...
Mon, Mar 9 2015, 5:20 PM
On the morning after 'springing forward,' we could forgive a bit of confusion or a bit of fatigue as folks who use archaic alarms may have been runnin...
Fri, Mar 6 2015, 12:32 PM
What is a dip-buyer? That's just a fancy term for an investor who has seen prices fall far enough to entice them to buy in the hopes of a bounce. It...
Fri, Mar 6 2015, 7:34 AM
For nearly a year, NFP hadn't mattered . That is to say, it ceased filling it's usual role as big-picture guidance giver. It was no longer setting ...
Thu, Mar 5 2015, 4:46 PM
Today's ECB press conference and QE details were indeed a hotly anticipated item, and they caused quite a stir for European bond markets (right where ...
Thu, Mar 5 2015, 1:20 PM
Relative to its potential, today's release of ECB QE details turned out to inspire only modest volatility. Compared to an average day, however, the s...
Wed, Mar 4 2015, 12:39 PM
This morning's trading has been refreshingly straightforward. In fact, it's about as straightforward as it gets. Bond markets are clearly quite focu...
Wed, Mar 4 2015, 7:01 AM
Tue, Mar 3 2015, 12:38 PM
Anyone who's not talking about this week's rate movements in the context of the big Actavis corporate bond offering is missing the point . It was ...
Tue, Mar 3 2015, 7:33 AM
Yesterday morning, bond traders held off on more meaningful selling until they could rule out a big miss in the ISM data. That would normally mean ...
Tue, Mar 3 2015, 4:26 PM
Bonds sold off again today amid a total absence of economic data and meaningful headlines. Tradeflows were left in control and the biggest considerat...
Mon, Mar 2 2015, 12:44 PM
In hindsight, this has turned out to be a simple morning for bond markets. That wasn't the case earlier when we could only guess at the likely culp...
Mon, Mar 2 2015, 7:34 AM
It's an exciting and dangerous time for US rates markets, full of risk and opportunity. For those of us who were closely watching trends in rates...
Mon, Mar 2 2015, 5:34 PM
Have you heard much about Actavis before today?
Me neither, but that sure changed quickly! Actavis is a big pharmaceutical company that annou...
Fri, Feb 27 2015, 7:34 AM
We're all a bit shaken up--us market watching types. Almost all of 2014 through January of 2015 was great, and now February has stuck out like a sore...
Fri, Feb 27 2015, 4:59 PM
Very little has changed between now and the mid-day update (read that HERE if you like). To recap, bonds started the day roughly in line with yes...
Fri, Feb 27 2015, 1:06 PM
The last trading day of the month has managed to be a total let-down to anyone looking for excitement. In terms of doing no further harm , it's been...
Thu, Feb 26 2015, 11:41 AM
The day began on a strong note with US bond markets led higher in price by an even stronger overnight move in Germany. Following the mornings' econom...
Thu, Feb 26 2015, 7:34 AM
Domestic bond markets had been getting pummeled for exactly 3 weeks before getting a break on Tuesday. Then yesterday, they confirmed they're not goi...
Thu, Feb 26 2015, 6:44 PM
For being a day that followed 2 sessions of gains in a month where 2 sessions of gains is nearly unheard of, today got off to a great start . There ...
Wed, Feb 25 2015, 12:59 PM
Although there was a brief move to the lows of the day just after the noon hour, MBS have been doing a fine job of holding almost all of the gains fro...
Wed, Feb 25 2015, 7:34 AM
The answer to the question posed in the headline is "yes," both Yellen and Greece are moving markets. Unfortunately for the more traditional thinke...
Wed, Feb 25 2015, 5:44 PM
There are few situations that warrant more happiness or relief over what turned out to be a merely flat trading session in bond markets. Reason be...
Tue, Feb 24 2015, 7:33 AM
The Fed Chair's semi-annual congressional testimonies are always a hoot. That's where we get to see a delightful mix of politicians read what some ...
Tue, Feb 24 2015, 5:30 PM
If today wasn't a record in terms of positive reprice reports from MBS Live users, it was right up there. 44 have come through as yet, and it's n...
Tue, Feb 24 2015, 1:18 PM
There are a lot of moving parts to today's movement, and most of them working in synergy to benefit bond markets. The day began with Greece getting t...
Mon, Feb 23 2015, 12:58 PM
Despite Friday's volatile move into weaker territory, recent bond market trading decisions have been surprisingly logical. Arguably, we saw Friday ...
Mon, Feb 23 2015, 7:33 AM
The current week begins with what may amount to some simple housekeeping for the Eurozone as Greece submits the list of reforms it's been working on o...
Mon, Feb 23 2015, 5:15 PM
Perhaps the headlines did too good of a job of selling Friday's Greek news as something more definitive than it was. After all, most headlines were s...
Fri, Feb 20 2015, 12:21 PM
Did you catch the Day Ahead? It turned out to be pretty timely . Here it is if you need it:
MBS Day Ahead: Europe no Longer Fears Dominoes; Up...
Fri, Feb 20 2015, 7:32 AM
Things began to change in the Eurozone in 2013. That was when Cyprus and Italy were providing mild aftershocks following the bigger drama in 2010-2...
Fri, Feb 20 2015, 5:58 PM
I will have to be careful with how emphatically I convey today's volatility to friends and family. Anyone who doesn't follow markets as closely would...
Thu, Feb 19 2015, 7:34 AM
No, yesterday's FOMC Minutes weren't enough to change the fate of bond markets in and of themselves. They weren't even enough to get bond markets bac...
Thu, Feb 19 2015, 6:16 PM
When you get an instantaneous 7bp rally in 10yr yields following an FOMC communication, only to immediately bounce on the preexisting trendline and co...
Thu, Feb 19 2015, 1:24 PM
An 'inside day' refers to today's trading range happening completely INSIDE yesterday's trading range. The resulting lower-highs and higher lows be...
Wed, Feb 18 2015, 12:36 PM
What a quiet day it's been so far! Today's noncommittal sideways grind is the polar opposite of yesterday's steam-roller. This wasn't necessarily ...
Wed, Feb 18 2015, 6:18 PM
It was a nice, simple day as far as market watching was concerned. The overnight session was straightforward, with initial weakness driven by Eurozon...
Wed, Feb 18 2015, 3:07 PM
This afternoon's release of the Minutes from the most recent FOMC meeting make sense. They're filled with exactly the sort of stuff markets expec...
Wed, Feb 18 2015, 1:35 AM
The US version of 2015's massive bond market movement doesn't make for very riveting analysis. It's not the sort of thing that will be very satisfyin...
Tue, Feb 17 2015, 7:32 AM
The annoying sideways grind in bond markets will continue until we see whether or not Greece ends up leaving the EU. The EU doesn't want that and nei...
Tue, Feb 17 2015, 5:41 PM
This recap will largely be a reiteration of content from the Mid-Day article as there have been no material changes in fundamentals since then. In ge...
Tue, Feb 17 2015, 1:45 PM
On days like today, a majority of my time is devoted to staying on top of alerts and analysis for MBS Live . As such, this will be one of the few ...
Fri, Feb 13 2015, 7:32 AM
High-momentum trends can pause, reverse, or fizzle . More often than not, the early stages of all three of those options look exactly the same. It ...
Fri, Feb 13 2015, 4:36 PM
As expected/feared, the path of least resistance for bond markets has been that of weakness heading into the long weekend with big news waiting on the...
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