Thu, Mar 6 2014, 8:00 AM
A quick recap of the year so far...
January kicked off with bond markets holding their ground at the weakest levels in more than two years.
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Thu, Mar 6 2014, 4:32 PM
Bond markets were slightly weaker overnight as Geopolitical risk surround Ukraine continued to unwind. There wasn't much by way of new developments...
Wed, Mar 5 2014, 11:48 AM
MBS and Treasuries are both in slightly positive territory, and that's saying something considering the apparent challenge involved in getting here. ...
Wed, Mar 5 2014, 7:45 AM
"As with any geopolitical situation affecting markets, we'll only know the corner has been turned in hindsight. Until then, it's a wild card that's ...
Wed, Mar 5 2014, 3:55 PM
The overnight session ushered trading levels into just slightly weaker territory in the first part of the domestic session. In other words, this morn...
Tue, Mar 4 2014, 12:41 PM
Ukraine-related headlines sent moderate shockwaves through markets overnight, pushing Treasury yields higher by the open. Since then, the negative mo...
Tue, Mar 4 2014, 8:00 AM
While geopolitical tensions in Ukraine are certainly affecting markets, they're not affecting all markets equally. Core European debt has consistentl...
Tue, Mar 4 2014, 4:40 PM
Nothing new happened all day long. Unfortunately, the order of the day was a steady selling spree in MBS and Treasuries--easily the worst we've seen ...
Mon, Mar 3 2014, 11:58 AM
There's always a risk of crediting uncommon news headlines with too much market movement . That's certainly happening with Ukraine to some extent at...
Mon, Mar 3 2014, 8:00 AM
This week's calendar of economic data has a roughly average number of reports, but several of them are potent market movers. Friday's jobs report , ...
Mon, Mar 3 2014, 4:07 PM
As fun as it is to be cynical about the market movers getting the most attention, today's strength in bond markets really was mostly about Ukraine. ...
Fri, Feb 28 2014, 12:41 PM
Bond markets went into the locker room after this morning's econ data fairly discouraged, but not enough to give up. That was less obviously the cas...
Fri, Feb 28 2014, 8:00 AM
With the past five sessions having been green for MBS, today affords them the opportunity to do something they haven't done since the end of March 201...
Fri, Feb 28 2014, 3:57 PM
Month-end to the rescue! We've been talking about it all week and now the phenomenon (month-end buying) is a major contributor in bond markets' abili...
Thu, Feb 27 2014, 12:24 PM
MBS began the session in slightly stronger territory and soon gave up those gains after stronger-than-expected Durable Goods data. Despite the pull-b...
Thu, Feb 27 2014, 8:00 AM
In two short days, bond markets have gone from being closer to 1-month highs to the best levels in more than two weeks. Such things only become pos...
Thu, Feb 27 2014, 4:52 PM
Fannie 4.0s are up 5 ticks at 104-28. That's 9 ticks lower than the early February highs, but keep in mind those highs came just before the roll, whi...
Wed, Feb 26 2014, 12:38 PM
The day began with MBS and Treasuries in weaker territory after an uneventful overnight session. There wasn't much to the weakness and it only made f...
Wed, Feb 26 2014, 8:00 AM
Today's calendar is less busy overall, compared to Tuesday, but offers a good mix of data and events . The only significant economic report of the d...
Wed, Feb 26 2014, 4:33 PM
If trading days were sporting events, today would be a great game. There were several score changes, but the home team came out strong after half-tim...
Tue, Feb 25 2014, 12:19 PM
Bond markets are seeing their best day of gains since last Tuesday with 10yr yields down from 2.75 to just over 2.70. Fannie 4.0 MBS are up 10 ticks....
Tue, Feb 25 2014, 8:00 AM
As far as economic reports go, Consumer Confidence (often lumped together psychologically with "Consumer Sentiment") occupies that well-populated "2...
Tue, Feb 25 2014, 4:18 PM
Today ended up being one of the the calmest in recent memory in terms of price volatility in MBS. From 9:30am on, the biggest gap between the day's...
Mon, Feb 24 2014, 12:18 PM
Although Treasury yields have been moving in the same direction as stock prices, the magnitude is completely different. Whereas the S&P is up an impr...
Mon, Feb 24 2014, 8:00 AM
Frustration and confusion are ongoing themes for bond markets at the moment. The most visible antagonist in that regard is the "weather effect," wher...
Mon, Feb 24 2014, 4:26 PM
Bond markets overall have seen a fair share of ups and downs today, albeit in a narrow range. But where Treasuries took 2 steps back, MBS usually onl...
Fri, Feb 21 2014, 12:13 PM
Bond markets opened and spent the first hour of the day in weaker territory, but began to recover even before the Existing Home Sales data. That rec...
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...
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