Fri, Feb 21 2014, 7:45 AM
It continues to be a frustrating time for bond markets--prevented, as they are from rallying very much on strong data, but with few other reasons to s...
Fri, Feb 21 2014, 4:22 PM
Bond markets were weaker in the morning hours today as corporate rate-lock selling and other tradeflow considerations left sellers in control head...
Thu, Feb 20 2014, 12:13 PM
While yields still aren't back to last week's highs, they've taken a few more steps in that direction. Today's damage was mostly done after the Phil...
Thu, Feb 20 2014, 7:45 AM
Bond markets weakened yesterday, with most of the losses following the FOMC Minutes, though troubles mounted in mid-morning hours. That said, trading...
Thu, Feb 20 2014, 4:27 PM
Despite a solid day of volume and fairly noticeable mid-day bout of weakness, not much truly "happened" for bond markets today. There was plenty of r...
Wed, Feb 19 2014, 12:19 PM
Treasuries and MBS are both near their weakest levels of the day, but remain in slightly better shape than yesterday's latest levels. The strongest...
Wed, Feb 19 2014, 7:00 AM
Whither MBS go increasingly depends on whether data withers from winter weather. I'm so sorry about that sentence. In more modern words, the more th...
Wed, Feb 19 2014, 5:08 PM
The insidious thing about today's market movement--at least from the standpoint of MBS devotees--is that we began in moderately stronger territory and...
Tue, Feb 18 2014, 12:01 PM
Treasuries were slightly stronger in the overnight session with 10yr yields falling just over a bp. They've moved another 2-3bps lower as the morning...
Tue, Feb 18 2014, 7:00 AM
Bond markets begin the holiday-shortened still waiting for a reason to do anything but merely continue in the same mildly negative trend. Said tren...
Tue, Feb 18 2014, 4:30 PM
MBS weren't quite able to keep up with the Snowball rally in Treasuries today, but the gap lessened into the afternoon. Chalk this up to an abundance...
Fri, Feb 14 2014, 12:13 PM
With and without this morning's economic data, bond markets have erred on the side of weakness so far today. The only report significantly out of lin...
Fri, Feb 14 2014, 7:00 AM
After today's heavy snowfall in New York turned to rain this afternoon, it's now turning back into snow in the wee hours, scheduled to deposit another...
Fri, Feb 14 2014, 6:46 PM
Bond markets limped across the finish line near the lowest levels of the week. As expected, there was no major drama and the only real unpleasantne...
Thu, Feb 13 2014, 11:56 AM
Bond markets were reasonably stronger overnight, mostly by way of consolidating the past three days of weakness. Weaker economic data (Retail Sales a...
Thu, Feb 13 2014, 7:00 AM
Today's combination of events is seen from time to time on the Thursday of slower weeks. One component is the first major appearance of economic data...
Thu, Feb 13 2014, 4:20 PM
On a scale of 1-10, with 10 being the best case scenario for bond markets, today was 6 . It probably stood very little chance to be much more than a...
Wed, Feb 12 2014, 12:21 PM
This morning's first update on MBS Live noted that despite overnight press crediting China for prompting bond market weakness, it was in fact European...
Wed, Feb 12 2014, 7:00 AM
Wednesday could be somewhat interesting for bond markets. At the moment, we'll have to focus exclusively on Treasuries as MBS rolled last night, th...
Wed, Feb 12 2014, 4:23 PM
Today's calendar of economic events was empty . There wasn't even much by way of potential market movers to evaluate. Instead, bond markets were le...
Tue, Feb 11 2014, 12:21 PM
If there was any doubt as to the market-moving potential of today's Congressional testimony from Janet Yellen, it was quickly cleared up this morning....
Tue, Feb 11 2014, 7:00 AM
Bond markets are on the verge of disavowing their allegiance to higher prices and lower yields that has, thus far, characterized most of the new year....
Tue, Feb 11 2014, 4:53 PM
After Friday's initial NFP-inspired volatility, bond markets had settled into a very narrow sideways range in anticipation of the next big piece of gu...
Mon, Feb 10 2014, 11:59 AM
After an uneventful overnight session, MBS and Treasuries both began the day in moderately stronger territory, but only when compared to Friday's late...
Mon, Feb 10 2014, 7:00 AM
Friday's Employment Situation was weaker than expected, but failed to provide a clear confirmation for last month's numbers (which were weaker still)....
Mon, Feb 10 2014, 4:58 PM
Today is good one to speak about MBS and Treasuries separately, as they made fairly dissimilar moves. On the Treasury front (which speaks more to t...
Fri, Feb 7 2014, 11:44 AM
This morning's Employment Situation data was much weaker than expected. Even if we give the weather some credit for throwing the numbers off--which i...
Fri, Feb 7 2014, 7:00 AM
Another first Friday of the month, and another NFP has the chance to send bond markets in either direction. It seems like NFP (so named for the repor...
Thu, Feb 6 2014, 11:52 AM
If bond markets were left to their own devices today, we may well be seeing a bit of resilience --a modest tempering of the past two days of weakness...
Thu, Feb 6 2014, 7:00 AM
Momentum has been great for rates/bond markets almost exclusively in 2014 until the past two sessions. If today's session errs on the weak side again...
Thu, Feb 6 2014, 5:19 PM
On a negative note, bond markets began the day in slightly weaker territory and lost a bit more ground out of the gate. This wasn't so much a factor ...
Wed, Feb 5 2014, 12:47 PM
It's important to note that a majority of today's movement has arrived BETWEEN the two big instances of economic data as opposed to immediately in t...
Wed, Feb 5 2014, 7:00 AM
Today leads off with the ADP Employment Report at 8:15am. While it is the stated goal of this data series to capture the BLS report's revised numbers...
Wed, Feb 5 2014, 5:08 PM
To reiterate a point made in the mid-day commentary, it's important to note that bond markets were weaker today WITHOUT the same sort of motivation ...
Tue, Feb 4 2014, 12:23 PM
The trading day has been fairly straightforward so far. After yesterday's rout in equities markets, we're seeing a nominal bounce back. Whether that...
Tue, Feb 4 2014, 7:00 AM
After the big moves seen yesterday, and in the absence of any top tier economic data, today's session is more likely to see smaller moves as markets g...
Tue, Feb 4 2014, 4:28 PM
As expected, today's market movements were mere shadows of their former selves, opting for narrow consolidation ahead of the push of important data ...
Mon, Feb 3 2014, 12:00 PM
The big news so far today has been the much-weaker-than-expected ISM Manufacturing data. While the headline "Purchasing Manager's Index" was still ...
Mon, Feb 3 2014, 7:00 AM
It's an interesting time for bond markets where the recent momentum is in between definitions. The more pessimistic definition would consider January...
Mon, Feb 3 2014, 5:10 PM
We'll be among the first to tell you that stocks and bonds clearly vary in their level of correlation. At times stock prices and bond yields will m...
Fri, Jan 31 2014, 11:52 AM
The overnight session saw the lion's share of today's movement, resulting in MBS/Treasuries opening at their best levels of the year yet again. Tra...
Fri, Jan 31 2014, 7:00 AM
November and December were not volatile months for bond markets. While we sometimes associate the concept of volatility with losses in MBS (because v...
Fri, Jan 31 2014, 4:17 PM
Although we have just under an hour of trading left in the day, if MBS were to end right at current levels, January would be the strongest month of ga...
Thu, Jan 30 2014, 11:06 AM
After several days of pronounced volatility, bond markets are taking it easy by comparison so far today. The overnight session had the nostalgic fe...
Thu, Jan 30 2014, 7:00 AM
With the introduction of the 2-Year Floating Rate Note Auction occupying yesterday's auction time slot, today will see both the 5 and 7yr auctions at ...
Thu, Jan 30 2014, 4:12 PM
Both MBS and Treasuries were weaker at the start of today's domestic session. While that was slightly more pronounced for Treasuries, so was yesterda...
Wed, Jan 29 2014, 11:55 AM
Treasuries experienced significant volatility overnight, rising abruptly to the highest yields since last Thursday as Asian markets opened, only to fa...
Wed, Jan 29 2014, 9:00 AM
After reaching a boiling point in terms of volume and positivity by the end of the day on Friday, bond markets have leveled off and calmed down a bit ...
Wed, Jan 29 2014, 5:35 PM
The Fed reduced asset purchases by another $10 billion today and bond markets rallied handsomely. These two concepts have heretofore been diametrica...
Wed, Jan 29 2014, 2:02 PM
Information received since the Federal Open Market Committee met in
December indicates that growth in economic activity picked up in recent
quarte...
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