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...
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 ...
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