Wed, Aug 21 2013, 7:00 AM
After The first two days of the week offered a fairly large sell-off and
an equally large rally for bond markets--all against the backdrop of NO da...
Wed, Aug 21 2013, 4:54 PM
The best thing that bond markets (and stocks too, for that matter)
could have hoped for from today's FOMC Minutes would have been a
fractured Fed ...
Tue, Aug 20 2013, 11:26 AM
Today's story is a fairly simple one. It relies on the prologue that
bond market momentum has been decidedly skewed toward the weak side for
at l...
Tue, Aug 20 2013, 7:06 AM
At least tomorrow morning there will be something substantive coming up
during the course of the day to discuss with anticipation. Until then,
we...
Tue, Aug 20 2013, 5:26 PM
Bond markets had a tremendously strong overnight session with solid
gains and big volume. Whether this had anything to do with the actual
events ...
Mon, Aug 19 2013, 11:24 AM
Against the backdrop of a silent data calendar, bond markets are on the
ropes. Both MBS and Treasuries have been grinding uncomfortably against
F...
Mon, Aug 19 2013, 7:29 AM
One of the most interesting things about last week was the phenomenon of
'status quo' data serving to inspire heavy selling in both stocks and
bon...
Mon, Aug 19 2013, 4:51 PM
Bond markets continued free-falling today, ostensibly searching for the
theoretical point at which a September 18th reduction in the Fed's asset
p...
Fri, Aug 16 2013, 9:00 PM
The balance of this week's economic data was unequivocally "not enough"
to remove the stench of September tapering from MBS and Treasuries. It
wa...
Fri, Aug 16 2013, 7:20 AM
Yesterday's post was generally a warning against viewing 2.74 as a 'ceiling' in 10yr yields ( read it here ).
That gives us the opportunity to disc...
Fri, Aug 16 2013, 2:23 PM
Please note the timestamp on the pricing snapshot below. This mid-day
recap can occasionally be delayed if we're working on alerts and
interactio...
Thu, Aug 15 2013, 7:14 AM
So far this week, Monday has shown us that bond markets were considering
getting back in the swing of things after a dull week past. Tuesday
conf...
Thu, Aug 15 2013, 4:54 PM
Bond markets continue to adhere to the notion that near term economic
data is fantastically important in honing in on a target date for
tapering. ...
Wed, Aug 14 2013, 12:38 PM
Today was well-scripted in the sense that it offered little by way of actionable data
compared to yesterday and tomorrow. Trading activity has been...
Wed, Aug 14 2013, 7:15 AM
Yesterday's sell-off was a bit of wake-up call for anyone lulled into
a false sense of security by last week's tepidity or their crystal
ball's t...
Wed, Aug 14 2013, 4:30 PM
In stark contrast to yesterday's session, volume and volatility were nowhere to be found today. MBS and Treasuries entered the domestic session right...
Tue, Aug 13 2013, 7:03 AM
Last week was one of those perfectly slow weeks that looked like it
would be slow ahead of time and didn't disappoint. It was also "Shark
Week" o...
Tue, Aug 13 2013, 4:35 PM
After maligning last week's lack of excitement, bond market bulls would
be happy to have it back after today's sell-off. We were expecting more
v...
Mon, Aug 12 2013, 11:57 AM
This morning's slowness was mostly to-be-expected. There's nothing on the calendar in terms of economic data until the afternoon and the report in qu...
Mon, Aug 12 2013, 7:29 AM
Coming off a week that was uneventful by any standard, the week ahead is notably different
in terms of its more robust economic data offerings. T...
Mon, Aug 12 2013, 5:03 PM
MBS Live : MBS Afternoon Market Summary
++INSERT COMMENTARY HERE++
MBS Pricing Snapshot
Pricing shown below is delayed, please no...
Fri, Aug 9 2013, 12:22 PM
Volume and volatility were exceptionally light in the overnight session
with Treasuries holding flat during Asian hours, rallying during European ho...
Fri, Aug 9 2013, 7:50 AM
Last night was Class A Settlement for MBS--aka " the roll ." If
the roll causes any confusion (pretty normal), try thinking of it like
an assembl...
Fri, Aug 9 2013, 5:14 PM
Nothing at all happened today. There were no significant market moving
events. Data didn't matter--or at least no one cared to trade it
today. ...
Thu, Aug 8 2013, 12:53 PM
Bond markets were initially stronger in the overnight session. Then
they were weaker. Then they were stronger again. The net effect is
that a l...
Thu, Aug 8 2013, 7:44 AM
There are fewer and fewer ways to express that the broader themes in
bond markets are in place and that this week not only looked like an
opportun...
Thu, Aug 8 2013, 4:47 PM
Today's 30yr Bond Auction managed to create a few small spikes higher and lower in rates this afternoon before
the long end of the yield curve settl...
Wed, Aug 7 2013, 12:47 PM
There is little to be observed about this morning's trading that hasn't
already been seen in the first two days of the week. 10yr yields and
MBS ...
Wed, Aug 7 2013, 7:43 AM
Yesterday's Trade Deficit numbers played something of a similar role to
Monday's ISM data in that they stood as a traditionally important piece
of...
Wed, Aug 7 2013, 5:38 PM
The week continues to be every bit as riveting as expected, which is to
say it's not-at-all riveting. At least today's version of
inconsequential...
Tue, Aug 6 2013, 12:33 PM
In the context of Friday's movement, today is just another day spent
drifting sideways in the post-payrolls range. But if we look just at
yesterd...
Tue, Aug 6 2013, 7:13 AM
Limited economic data is the theme of the whole week and if not for the
Treasury auction cycle, bond markets would scarcely have a reason to
show ...
Tue, Aug 6 2013, 5:24 PM
There was a time (and may be again) where markets cared about the
International Trade report. Economic Calendars of various shapes and
sizes rout...
Mon, Aug 5 2013, 7:37 AM
The last three days of last week provided only a glimpse of the
volatility surrounding the Fed's tapering timeline. Interestingly
enough, Reuters...
Mon, Aug 5 2013, 5:43 PM
Bond markets previously wrestled with the idea of settling down for the
summer--something they haven't really been able to do since 2008--but
foun...
Mon, Aug 5 2013, 1:36 PM
On the approach, the current week looked as if it would have precious
little to offer by way of suggesting the next--if any--shift in the
bigger p...
Fri, Aug 2 2013, 11:52 AM
Bond markets had been waiting on the past three days of data to better
assess Bernanke's potential affection in the coming months as the
tapering ...
Fri, Aug 2 2013, 7:16 AM
Bond market momentum is increasingly dictated by horse races between September and December
timelines for the announcement that the Fed's asset ...
Fri, Aug 2 2013, 5:55 PM
In the same way that Doc Holiday said "that is a hell of a thing for
you to say to me" in the Movie Tombstone, it's a hell of a thing for me
to sa...
Thu, Aug 1 2013, 12:35 PM
Everywhere we look this morning, there's another reason for bond markets
to be heading back into weaker territory after yesterday afternoon's
rela...
Thu, Aug 1 2013, 10:07 PM
Nearly a month ago, the three day time frame at the end of this week
stood out as vastly important to bond markets due to the level of
information...
Thu, Aug 1 2013, 7:02 AM
Much was made of the potential volatility introduced by yesterday's
calendar of events and markets did not disappoint. But the volatility
arrived...
Wed, Jul 31 2013, 12:31 PM
Trading activity has been fairly logical so far today. Bond markets
continued to leak just slightly lower in price overnight (higher in
yield), b...
Wed, Jul 31 2013, 8:13 AM
After nearly a month of waiting , the three days are now upon
us that stood out as the most significant three days all the way back on
July 8th (...
Wed, Jul 31 2013, 5:49 PM
The Fed is to be applauded for mentioning mortgage rates in today's
official Announcement in an unprecedented way. While the Fed is the
very pict...
Wed, Jul 31 2013, 1:59 PM
Information received since the Federal Open Market Committee met in June
suggests that economic activity expanded at a modest pace during the
firs...
Tue, Jul 30 2013, 12:28 PM
Step back from MBS prices far enough to see more than a few days and it
becomes clear that we're grinding sideways in an increasingly narrow
range...
Tue, Jul 30 2013, 6:43 AM
While the "day before the day with huge potential volatility"
occasionally surprises us with a relatively large preemptive move, we're
still waiti...
Tue, Jul 30 2013, 4:28 PM
We have it on good authority that tomorrow is Wednesday and that there's
a lot of "stuff" going on that bond markets might care about. That
inclu...
Mon, Jul 29 2013, 12:26 PM
Given the abundance of data and events due out later this week, bond
markets have unofficially extended the weekend through today as far as
tradin...
MBS Market Alerts
