Thu, Aug 7 2014, 12:17 PM
When we reference "European bond markets," we're talking about the undisputed benchmark for the Eurozone: German Bunds. It's important to keep in min...
Thu, Aug 7 2014, 7:31 AM
First of all, there are far worse kinds of stagnation in bond markets. The current variety--while appallingly range-bound--is at least stagnant near ...
Thu, Aug 7 2014, 4:39 PM
17 to 9. That's the current score between Treasuries and MBS in terms of day-over-day price gains. Or look at it this way. 10yr yields just had the...
Wed, Aug 6 2014, 12:02 PM
Driven almost exclusively by European bond market strength (and stock market weakness), Treasuries and MBS began the day in much better territory . ...
Wed, Aug 6 2014, 7:33 AM
Today's economic/event calendar is limited to the recently unimportant and uninspiring trade gap data, so let's talk about the stock lever and long te...
Wed, Aug 6 2014, 5:06 PM
Treasuries and--by default--MBS are still more than willing to take cues from European bond markets. This is especially true in the overnight session...
Tue, Aug 5 2014, 11:37 AM
The beginning of the overnight session was uneventful, with relatively little movement until European markets came online. From there, bond markets...
Tue, Aug 5 2014, 7:31 AM
At the risk of confusing "first chances" with "good chances," there's at least some chance that today will succeed where yesterday failed. As we di...
Tue, Aug 5 2014, 4:23 PM
It was a tale of two headlines today; one of the scheduled; the other, a surprise. The schedule economic data at 10am showed ISM's Non-Manufacturing ...
Mon, Aug 4 2014, 11:36 AM
Both MBS and Treasuries are trading in just slightly better territory than Friday's best levels. That's really about all there is to say about today....
Mon, Aug 4 2014, 7:33 AM
Bond markets did their best last week. After hitting the year's best levels in late May, nothing else has really happened, or even stood the chance t...
Mon, Aug 4 2014, 4:53 PM
For a day that sits adjacent to NFP Friday, today was calm and uneventful. Bond markets started out right in line with Friday's latest levels and i...
Fri, Aug 1 2014, 12:21 PM
MBS and Treasuries started the day in slightly weaker territory after a fairly uneventful overnight session. On NFP day, all eyes are on 8:30am anywa...
Fri, Aug 1 2014, 7:31 AM
First off, anything can happen on NFP days, so feel free to skip the rest of this and buckle up for the ride if you're reading this before 8:30am ET...
Fri, Aug 1 2014, 4:23 PM
Fannie 3.5 MBS are heading out the door nearly half a point better at 102-09. 10yr yields are down 6bps at 2.498. While they didn't quite make it ...
Thu, Jul 31 2014, 12:34 PM
The stakes are high for the rest of this week as far as bond markets are concerned. The anxiety is obvious. Is this the turning point where we bou...
Thu, Jul 31 2014, 7:39 AM
With GDP living up to it's surprising potential, things have quickly gotten more serious for domestic bond markets. Before yesterday, econo-bears c...
Thu, Jul 31 2014, 5:05 PM
It's not often you'll see the S&P down over 30 points with less than 1bp of day-over-day movement in 10yr yields, but that's where we're heading out t...
Wed, Jul 30 2014, 12:46 PM
Bond markets began the day on relatively level ground vs yesterday. It was, and has been up to GDP to cast the first major vote on whether or not b...
Wed, Jul 30 2014, 7:33 AM
On the afternoon of the Thursday before last, bond markets had just gone on their run to the best levels in over a month on the geopolitical flare-up...
Wed, Jul 30 2014, 6:18 PM
Tonight's theme: "not many."
It's not many times that GDP will crack 4% after being down more than 2% in the previous quarter, but it did today. ...
Wed, Jul 30 2014, 1:59 PM
Information received since the Federal Open Market Committee met in June
indicates that growth in economic activity rebounded in the second
quarte...
Tue, Jul 29 2014, 12:39 PM
The day started out well for Treasuries and MBS for a variety of reasons. European bond markets have been the most reliable motivation for overnigh...
Tue, Jul 29 2014, 7:42 AM
Yesterday proved to be anything but serious based on the narrow trading range. 10yr yields only used up half of the range they'd carved out on Frid...
Tue, Jul 29 2014, 5:00 PM
Markets were more active today, offering a nice little warm up for what promises to be an even more active day tomorrow. The movement came in waves...
Mon, Jul 28 2014, 12:56 PM
Very little happened in the overnight session and very little has changed into the domestic trading hours. Bond markets were a bit weaker overnight a...
Mon, Jul 28 2014, 7:42 AM
Finally we come to the week we've been eyeing for nearly a month as a candidate for major changes. It's fitting that 10yr yields ended the previous w...
Mon, Jul 28 2014, 5:11 PM
More due to timing and coincidence than anything, we got a few negative reprices this afternoon. Shortly thereafter, prices moved right back mid-poin...
Fri, Jul 25 2014, 11:56 AM
For more than a week, bond markets have flirted with a break into the best levels of the year. On several occasions 10yr yields have looked all but ...
Fri, Jul 25 2014, 7:27 AM
Next week is a big one. ADP/GDP/FOMC all hit on Wednesday. Month-End is on Thursday, and NFP is on Friday. There are other top-tier reports as we...
Fri, Jul 25 2014, 3:51 PM
Next week promises to be big. Even if the events don't 'agree' with each other enough to spark a major rally or sell-off, the potential is there. Du...
Thu, Jul 24 2014, 12:27 PM
Typically, negative economic data on the scale of this morning's New Home Sales would be a clearly positive factor for bond prices. Sales fell at the...
Thu, Jul 24 2014, 7:42 AM
The past 5 days have simply seen rates grind around recent lows. Things have been a bit brighter in Treasuries compared to MBS, but in general, bot...
Thu, Jul 24 2014, 3:59 PM
For the past 4 sessions, bond markets have traded a narrow range near their best levels of the year. This effectively began with the geopolitical r...
Wed, Jul 23 2014, 12:49 PM
In terms of domestic economic data and events, not much has happened today. The key driver of morning gains was the reaction to Bank of England Min...
Wed, Jul 23 2014, 7:33 AM
Having spent the last 4 sessions trading near 2.47%, 10yr yields are operating in an important zone historically. For all intents and purposes, yield...
Wed, Jul 23 2014, 5:05 PM
Although MBS did a good job of pushing back against a recent bout of underperformance over the past 3 sessions, today showed it won't be a straight sh...
Tue, Jul 22 2014, 12:22 PM
MBS began the session at a disadvantage after overnight trading pushed bond yields and stock prices higher. At 8:30am, the Consumer Price Index (CPI)...
Tue, Jul 22 2014, 7:39 AM
2014 has been an interesting year for bond markets. In fact, in terms of its ability to continually confound market expectations, it's been one of th...
Tue, Jul 22 2014, 4:56 PM
Bond markets didn't put on much of a show today, but what little there was managed to be enjoyable . Credit that to the fact that trading levels mad...
Mon, Jul 21 2014, 11:35 AM
With no major economic data on the calendar, and no game-changing headlines to react to, bond markets have been content to follow stocks so far this...
Mon, Jul 21 2014, 7:33 AM
In many ways, the current week will serve as a prelude to the following week, which is exceptionally packed with big-ticket events . From Wednesday ...
Mon, Jul 21 2014, 5:36 PM
If you haven't heard already (say, like 7 or 8 times from us--both before and after the fact), today's calendar was fairly light for bond markets. ...
Fri, Jul 18 2014, 12:13 PM
Sometimes the 2nd day of a big geopolitical move will spiral into a volatile blaze of glory. Other times, it's like today.
Bond markets are calmly...
Fri, Jul 18 2014, 7:31 AM
Although economic data had some small role to play in yesterday's strong bond market rally, the day was really all about geopolitical risk. If we've ...
Fri, Jul 18 2014, 4:02 PM
The amount of geopolitical turmoil in the world today is not materially better than yesterday, but without new surprises to fuel safe-haven demand, bo...
Thu, Jul 17 2014, 11:33 AM
Despite a much stronger-than-expected Philly Fed report, bond markets didn't lose much ground after 10am. Earlier in the morning, weaker Housing Star...
Thu, Jul 17 2014, 7:41 AM
In a sense, bond markets came into the week as an underdog . They'd rallied the entire previous week to the lowest levels in over a month. And by F...
Thu, Jul 17 2014, 5:04 PM
Today offered a triple or possibly quadruple-whammy for bond markets, almost exclusively in the form of overseas events. The weakest among these was ...
Wed, Jul 16 2014, 12:12 PM
Ah round 2! After a relatively civil and infinitely more relevant chat with the Senate Banking Committee, Fed Chair Yellen is now enduring what can o...
MBS Market Alerts
