Tue, Jan 28 2014, 8:31 AM
Durable goods data for December is due at 8:30 a.m. EST while the S&P/Case-Shiller home price index for November will be released at 9:00 a.m. ET. The...
Mon, Jan 27 2014, 7:00 AM
The past two weeks have been good for bond markets, but the past two sessions specifically have been "weird good." That is, they've resulted in much ...
Mon, Jan 27 2014, 4:22 PM
2:20PM :
ALERT ISSUED:
MBS Hits Lows; Negative Reprice Risk Increasing
The Fannie Mae 4.0 coupon has just reached the lo...
Fri, Jan 24 2014, 12:05 PM
The only fashionable topic of conversation in financial markets at the moment is the global flight-to-safety. There are various root causes for this,...
Fri, Jan 24 2014, 7:00 AM
Bond markets have several new friends so far in 2014 apart from the soft employment data at the beginning of the month. One of the most reliable fr...
Fri, Jan 24 2014, 4:18 PM
China... Argentina... Emerging market currencies panicking over tapering... Overvalued stock markets "overdue for a correction..." There are plenty ...
Thu, Jan 23 2014, 12:44 PM
Less than 24 hours after trading patterns suggested a risk that bond markets were confirming a bounce against their best levels of the month, those ...
Thu, Jan 23 2014, 7:00 AM
Thursday brings the week's only dose of economic data. While none of the reports are top tier, markets may still take the opportunity to adjust the...
Thu, Jan 23 2014, 4:42 PM
Bond markets were stronger all day, with every ancillary consideration seeming to help them along. Right from the start of the overnight session, wea...
Wed, Jan 22 2014, 11:56 AM
(Update: we issued an alert at 12:07pm as prices quickly slid to their lows).
Much like yesterday, bond markets were weaker overnight with Treasur...
Wed, Jan 22 2014, 7:00 AM
Although there will be economic data on Thursday, and even though there is technically some today, the week remains decidedly focused on setting up ...
Wed, Jan 22 2014, 6:10 PM
One of the recurring questions on the MBS Live Dashboard today was simply "what's up with this weakness?" Normally, there would be a logical connect...
Tue, Jan 21 2014, 11:52 AM
Bond markets were weaker overnight with yields on 10yr Treasuries rising above 2.86 early this morning. Some of the weakness was attributed to a Wall...
Tue, Jan 21 2014, 7:00 AM
Today's session is emblematic of most of the rest of the week. There is no scheduled economic data and trading is just as likely to be driven by posi...
Tue, Jan 21 2014, 4:03 PM
MBS tell a bit of sunnier story than Treasuries today as Fannie 4.0s were able to break their 2014 highs by one whole tick (1/32nd). 10yr Treasuries ...
Fri, Jan 17 2014, 12:09 PM
While this morning's data releases haven't been top tier market movers, we did get a bit of a head fake toward weaker territory starting just after 9a...
Fri, Jan 17 2014, 7:00 AM
September was a pretty good month for bond markets, assuming you're able to overlook the fact that it took a massive sell-off with 10yr yields hitting...
Fri, Jan 17 2014, 5:10 PM
Most of today's movement was seen in between data releases as opposed to immediately following. In other words, Housing Starts came out this morning ...
Thu, Jan 16 2014, 12:21 PM
Both the 830am and 10am sets of economic data left MBS incrementally better off. At 830am, it was primarily the big jump in Continued Claims in the J...
Thu, Jan 16 2014, 7:00 AM
Today is by the far the busiest day of the week judging by the calendar, and not just the calendar of economic data. While that's busy enough in it...
Thu, Jan 16 2014, 4:50 PM
Bond markets had an utterly copacetic day, starting out just barely positive, gaining nominally with each round of economic data and continuing to tri...
Wed, Jan 15 2014, 12:08 PM
Bond markets had an exceptionally narrow, quiet overnight session with 10yr yields holding inside a 1.7bp range and hitting 8am almost perfectly in ...
Wed, Jan 15 2014, 7:00 AM
Bond markets had their first set-back yesterday in the post-NFP rally. While that rally only lasted 2 short days, it covered as much ground as any 2 ...
Wed, Jan 15 2014, 5:02 PM
Back in September, the epic corporate bond offering by Verizon (more than double the previous record!) proved to be such a factor for broader bond m...
Tue, Jan 14 2014, 12:20 PM
Bond markets have given up most of yesterday's strength so far this morning, though that's more true for Treasuries than MBS. The morning has been su...
Tue, Jan 14 2014, 7:00 AM
There are clues in yesterday's session as to where our attention should be focused in the next two weeks. There may well be clues in this morning's...
Tue, Jan 14 2014, 4:27 PM
Whereas Friday's big move higher in MBS was all about one undisputed star of the show, and whereas today's Retail Sales report had an opportunity to...
Mon, Jan 13 2014, 12:14 PM
Bond markets have been trading calmly and slightly stronger. That said, the strength is more in line with "follow through" from Friday morning's mo...
Mon, Jan 13 2014, 6:48 AM
Things have been less than great for bond markets since May of 2013 when sentiment in the Fixed-Income sector seemed to turn on a dime. In reality, t...
Mon, Jan 13 2014, 4:57 PM
The past few weeks have marked the first time in a long time that we've had occasion to consider the proverbial "stock lever" (the phenomenon whereb...
Fri, Jan 10 2014, 12:50 PM
This morning's jobs report was stunningly weaker than expected, with NFP coming in at 74k vs a consensus forecast of 196k. As far as misses go, this ...
Fri, Jan 10 2014, 6:36 AM
This analysis isn't intended to extoll the virtues of ADP, but it's going to seem that way based on the objective facts offered. It's also meant to s...
Fri, Jan 10 2014, 4:36 PM
There is a disturbing lack of utter certainty when it comes to financial markets, and especially to the effect of economic data on MBS Prices. Case...
Thu, Jan 9 2014, 12:01 PM
The day began with modest improvements, helped along by tough talk from ECB President Draghi. While the timing of the best movement seems to coinci...
Thu, Jan 9 2014, 8:30 AM
It's a somewhat cynical point of view, but what is the Thursday before Nonfarm Payrolls (NFP) if not a place-holder that can't ever come close to the ...
Thu, Jan 9 2014, 4:21 PM
As expected, today's trading wasn't willing or able to challenge recent rages in any meaningful way. In fact, it didn't even challenge yesterday's ra...
Wed, Jan 8 2014, 12:25 PM
As expected, this morning's ADP data marked the unofficial inception of 2014, bringing by-far the biggest dose of volume and movement this year. To...
Wed, Jan 8 2014, 7:00 AM
For all intents and purposes, today is the first day of 2014. While Monday's ISM Non-Manufacturing data is one of the more capable market movers , i...
Wed, Jan 8 2014, 4:27 PM
The afternoon turned out to be even less interesting than our already-discounted outlook suggested (see the Day ahead , particularly "That leaves the...
Tue, Jan 7 2014, 11:54 AM
On December 18th, Fannie 4.0 MBS were heading into the FOMC's 'tapering' Announcement at 103-12. They shed nearly 7/8ths of a point by the following ...
Tue, Jan 7 2014, 7:00 AM
Even during non-holiday weeks, Mondays tend to run a little light and yesterday was no exception. That said, it did manage the best volume of any s...
Tue, Jan 7 2014, 4:37 PM
Bond markets trudged farther into positive territory today, this time crossing into the best levels since December's FOMC Announcement for MBS and s...
Mon, Jan 6 2014, 12:08 PM
Bond markets were just slightly stronger overnight. Tradeflows in Treasuries haven't been infinitely more robust than Thursday or Friday, but they ar...
Mon, Jan 6 2014, 7:00 AM
After 2 weeks with exceptionally light activity due to holidays and inclement weather in New York, bond markets get back to business today. Not only ...
Mon, Jan 6 2014, 4:37 PM
In several ways, today is/was something of a warm up for the rest of the week. In fact, tomorrow could be similar in that the biggest events of the...
Fri, Jan 3 2014, 11:34 AM
As expected, we're seeing a lot of reports of thinly staffed trade desks in NY thanks to the snow storm. Almost all of the volume in Treasury futur...
Fri, Jan 3 2014, 4:20 PM
MBS began the day on a down note with prices off 5/32nds. In the absence of data (or anything at all, really), bond markets found their footing bet...
Fri, Jan 3 2014, 2:53 AM
If there is any reason for market participants to tune in today, it will be the late day speech from Bernanke. That's not happening until 2:30pm howe...
Thu, Jan 2 2014, 11:56 AM
We're once again seeing tradeflows overpower economic data in terms of bond market motivation. Most of this morning's data was stronger than expect...
Thu, Jan 2 2014, 7:00 AM
Today's calendar of economic events includes Jobless Claims, both of the manufacturing PMIs (Markit and ISM), and Construction Spending, making Thursd...
MBS Market Alerts
