Fri, May 16 2014, 7:54 AM
Despite an abundance of economic data yesterday, domestic bond markets were instead focused on navigating trading ranges past and present. The stron...
Fri, May 16 2014, 3:58 PM
Although it's true that bond markets moved into weaker territory after this morning's data, it's even more true that the weakness looks like a mere c...
Thu, May 15 2014, 12:37 PM
Even seasoned market-watchers might be thrown for a bit of a loop by today's surprisingly strong bond market rally. After all, we just had a surprisi...
Thu, May 15 2014, 8:00 AM
Today is by far and away the busiest day of economic data this week. This presents a good opportunity to feel out what's important to the bond market...
Thu, May 15 2014, 4:11 PM
To be fair to the entire bond market, Treasuries actually didn't fade that much. After making it into the 2.47's, 10yr yields are drifting sideways...
Wed, May 14 2014, 12:08 PM
Even if we were being as pessimistic as possible and making every excuse for the 2014 trading range, there's no way to put a caveat on today's levels....
Wed, May 14 2014, 7:51 AM
Heading into the end of last week, bond markets were like a space shuttle preparing for launch. The earth was like a 10yr Treasury yield at 2.57 and ...
Wed, May 14 2014, 5:31 PM
Even though mortgage rates hit multi-month lows several times in the past 2 weeks, today is significant in that Treasuries finally broke the range. S...
Tue, May 13 2014, 12:00 PM
MBS and Treasuries began the day in unchanged territory. There was a bit of a positive backdrop in place from overnight news that Germany's central b...
Tue, May 13 2014, 7:54 AM
Bond markets have arguably been trading in accordance with the mainstream technical suggestions. Specifically, there are several technical studies so...
Tue, May 13 2014, 3:57 PM
Until this morning, recent momentum in bond markets was clearly and cleanly pointing to a correction within the recent range, where rates would move h...
Mon, May 12 2014, 11:58 AM
It's been a slow morning so far, and utterly lacking in overt inspiration. More simply put, we haven't seen any movement in Treasuries or MBS linked ...
Mon, May 12 2014, 7:51 AM
Over the weekend, events that have been labelled by some as 'referendums' took place in several of the most embattled regions in Ukraine. Not surpris...
Mon, May 12 2014, 4:25 PM
Compared to the 9 ticks of price weakness in 10yr Treasuries (+3.1 bps), Fannie 3.5 MBS were only off 5 ticks and Fannie 4.0s just 3 ticks in the fina...
Fri, May 9 2014, 11:58 AM
Bond markets are just slightly weaker, and have thus far been doing a decent job of keeping those losses contained. There hasn't been much by way of '...
Fri, May 9 2014, 7:42 AM
First thing's first: "mortgage rates" themselves, have clearly already broken the 2014 range, having moved into the best levels since late October o...
Fri, May 9 2014, 3:11 PM
The focus of the week for MBS and rates should be on the fact that we made it to levels not seen since the end of October 2013. With 6 out of the la...
Thu, May 8 2014, 12:01 PM
Europe and the US serenaded each other this morning with a hot rendition of "Dueling Bankers." Not to be confused with dueling banjos, this song feat...
Thu, May 8 2014, 7:42 AM
Thursday is probably the most action-packed day of the week for MBS. It gets most of the way there by being a fairly action-packed day for bond marke...
Thu, May 8 2014, 4:40 PM
Right from the outset, seemingly strange things were happening as 10yr yields looked much higher on charts, yet were reported as being slightly lower ...
Wed, May 7 2014, 12:40 PM
Bond markets have been slightly more active today both in terms of volume and volatility. Overnight trading was essentially a wash. 10yr yields were...
Wed, May 7 2014, 7:42 AM
Bond markets put in another strong day yesterday, returning to the strongest end of their respective ranges after losing just a bit of ground to start...
Wed, May 7 2014, 4:07 PM
Bond began the first few minutes of the day in slightly weaker shape, but ended the day in positive territory after Yellen's congressional testimony a...
Tue, May 6 2014, 11:02 AM
So far this week, stocks and bonds have generally been moving together again after a bit of disconnection last week. Equities futures fell graduall...
Tue, May 6 2014, 8:00 AM
There was a Bloomberg article out on Sunday night that quickly made rounds in financial markets and among market watchers. It isn't 'in your face...
Tue, May 6 2014, 4:19 PM
Calmly and coolly, MBS marched to the best levels of the year this afternoon, and for no particular reason as far as today's events were concerned. ...
Mon, May 5 2014, 11:45 AM
Bond markets have been fairly calm this morning, even if slightly weaker after the ISM Non-Manufacturing data (aka ISM Services). Before that, ther...
Mon, May 5 2014, 7:54 AM
Last week ended in ground-breaking fashion with bond markets clawing into positive territory despite a substantially better-than-expected Employment S...
Mon, May 5 2014, 4:15 PM
After Friday's orgiastic frenzy of bet-making and profit taking, bond markets sat back in their seats and abstained today. In poker terms, this is a ...
Fri, May 2 2014, 12:17 PM
This has been one of the craziest NFP mornings I can remember--probably THE single most paradoxical reaction at first glance. Granted, bond markets...
Fri, May 2 2014, 7:42 AM
Unless you're just looking at the recent behavior in interest rates for the first time in months, you're well-aware that they've been stuck in a range...
Fri, May 2 2014, 3:41 PM
In looking at yesterday's activity in bond markets, we could see some level of determination to rally regardless of the incoming economic data. The c...
Thu, May 1 2014, 12:02 PM
10yr yields had been careful to avoid dipping below yesterday's latest levels until after all of this morning's data was out of the way. Once it was,...
Thu, May 1 2014, 7:38 AM
There's no way to be excited about bond markets right now! That is, unless you want to be excited about the fact that things are making great sense...
Thu, May 1 2014, 4:03 PM
Bond markets had a great day today, but the greatness isn't entirely logical ( ironic headline choice this AM , no? ). While there was some economic...
Wed, Apr 30 2014, 11:04 AM
The blue line is stocks; yellow is 10yr yields. When we see a chart like this on the last 2.5 days of the month-- ESPECIALLY when the recent norm has...
Wed, Apr 30 2014, 7:18 AM
As a quarterly report with monthly updates, GDP releases are slightly different from month to month. The order is: advance, preliminary, and final. ...
Wed, Apr 30 2014, 3:54 PM
Heading into the last hour of trading on this all-star day, bond markets have moved at a fairly average pace, albeit in rate-friendly directions. The...
Wed, Apr 30 2014, 1:59 PM
Information received since the Federal Open Market Committee met
in March indicates that growth in economic activity has picked up
recently, after...
Tue, Apr 29 2014, 12:16 PM
The overnight session was nominally weaker for Treasuries, but there was limited activity overall as Japan (the key participant in US Treasuries durin...
Tue, Apr 29 2014, 7:48 AM
To be perfectly fair to financial markets, "things could get serious" at any moment really, it's just that the events that are more predisposed to bri...
Tue, Apr 29 2014, 3:34 PM
It was a generally quiet day for bond markets, though that wasn't destined to be the case at the open. Treasuries had weakened slightly overnight and...
Mon, Apr 28 2014, 11:47 AM
MBS are coping with the double-edged sword that is stronger housing data this morning. On the one hand, the decisive reversal of an 8-month slide in ...
Mon, Apr 28 2014, 7:39 AM
If calendar events like economic reports and monetary policy announcements end up being the impetus for bond markets to break out of their 3-Month sid...
Mon, Apr 28 2014, 3:23 PM
Bond markets were just slightly weaker overnight, with no major volatility or trading themes emerging. MBS walked in the door a bit weaker as a resul...
Fri, Apr 25 2014, 8:00 AM
Bond markets are "done" with this week. 10yr yields haven't spent more than one day without being on both sides of the fence at 2.70 this week, which...
Fri, Apr 25 2014, 3:37 PM
MBS saw their first trades of the day come in just a hair over yesterday's latest levels, which were also the best of the day. They never looked back...
Thu, Apr 24 2014, 12:01 PM
Bond markets have had a volatile morning so far. Treasuries were slightly weaker overnight, resulting in lower opening levels in MBS. Both were weak...
Thu, Apr 24 2014, 8:00 AM
Bond markets continue to be relentlessly sideways. Just when Treasury yields were staging for their best chance at breaking out of a 3-month range-bi...
Thu, Apr 24 2014, 3:54 PM
For the second straight day, MBS are coasting toward the close having held a narrow 4/32nds range for most of the day, having seen little, if any thre...
MBS Market Alerts
