Tue, May 28 2013, 12:09 PM
In this morning's " week ahead " post, we highlighted the previous support seen around 2.04-2.07 percent in 10yr yields and that longer-run economic f...
Tue, May 28 2013, 8:54 PM
An adapted excerpt from tonight's ratewatch post :
If we had been fighting a battle for low rates, morale was high heading into the end of April...
Tue, May 28 2013, 7:29 AM
The past 4 weeks of selling brings MBS and Treasuries back to the scene of old battlegrounds from sell-offs past. With a moderate week of economic da...
Tue, May 28 2013, 3:26 PM
Although we don't typically publish "alerts" to the MBS Commentary channel (because of MBS Live ), today feels like a good day to break those rules c...
Fri, May 24 2013, 7:37 AM
Welcome to a crazy day for markets, maybe. It's a quadruple witching session, meaning that futures and options for single stocks and stock indices ...
Fri, May 24 2013, 4:31 PM
After a morning fraught with volatility, MBS finally bounced just after the noon hour. Even then, such a bounce wasn't really indicative of much more...
Fri, May 24 2013, 1:07 PM
Please not the timestamp on the price table below as Fannie 3.0s are currently down 3 ticks at 101-19, but had been as low as 101-13 earlier this morn...
Thu, May 23 2013, 12:47 PM
Mortgage markets are less than thrilled with the broader move into higher rates that was effectively confirmed yesterday, and we have 2 negative repri...
Thu, May 23 2013, 6:58 AM
The idea of "tapering" the Fed's long term asset purchases isn't as new as the past two weeks might make it seem. It was most visibly introduced in...
Thu, May 23 2013, 5:03 PM
Treasuries had a bit of an easier time today than MBS, the latter feeling the effects of a shift in duration preference that has been historically unk...
Wed, May 22 2013, 12:41 PM
If you read this commentary with any sort of frequency, you may have noticed a trend of late, where the mid-day recap has been coming out later than n...
Wed, May 22 2013, 8:11 PM
Today was among the worst on record for MBS since the carnage that was late 2010. We still have yet to see anything rival Black Wednesday's, but almo...
Wed, May 22 2013, 7:23 AM
Wednesday May 21st, and we finally get to see what all the fuss is supposedly about . The "fuss" or hype, if you prefer, was theoretically kicked in...
Tue, May 21 2013, 12:10 PM
Like a jilted lover learning how to trust again, MBS were tentative at first, and Treasuries hesitated at 1.97 as they descended from morning weakness...
Tue, May 21 2013, 6:12 AM
There continues to be little to do or say about the first two days of the week. For the most part, they merely serve as a sort of cruel waiting game ...
Tue, May 21 2013, 4:28 PM
In sort of an inverted reading of the recent script, bond markets weakened right out of the gate and began improving at 10am (several notable occasion...
Mon, May 20 2013, 12:36 PM
Please note the timestamp on the pricing snapshot below, and that it's about an hour and 15 minutes old. The snapshot will continue to be generated b...
Mon, May 20 2013, 7:53 AM
Whether or not it turns out to be justified, hype and anticipation have been building over this week's FOMC Minutes for over a week now. The hy...
Mon, May 20 2013, 4:44 PM
Bond markets got in this morning and quickly began undoing some of the damage done by the overnight trading session. Treasuries and MBS both opened f...
Fri, May 17 2013, 12:51 PM
Here we are again... All but a few days this week have seen morning sell-offs that have required negative reprice alerts for MBS Live subscribers . ...
Fri, May 17 2013, 7:53 AM
The bulk of the week's activity has passed, from a calendar standpoint, and this morning's Consumer Sentiment data is all that's left on the domestic ...
Fri, May 17 2013, 4:46 PM
MBS took a running start downhill this morning before reaching the edge of the cliff marked by yesterday morning's "ledge" of prices. This was the 10...
Thu, May 16 2013, 11:50 AM
Hopefully, in talking about the half point rally in MBS we're not unintentionally "jinxing" it, but yeah--there's a half point rally underway in MBS. ...
Thu, May 16 2013, 8:01 AM
If the presence of greater amounts of economic data was a benefit for bond markets on Wednesday (and we're not sure that it was), then Thursday has ev...
Thu, May 16 2013, 4:47 PM
Yesterday and again early this morning (before the data), we discussed the potential significance of yesterday's prices failing to make a new low for ...
Wed, May 15 2013, 12:46 PM
Once again, please note the timestamp in the pricing snapshot below, as it is about an hour and a half old now. This time gap will continue to be the...
Wed, May 15 2013, 7:09 AM
Wednesday brings enough data in the morning hours that it could help shape the trading day for bond markets. This wasn't the case on Tuesday where an...
Wed, May 15 2013, 4:36 PM
It's about 24 hours too soon to start getting excited, but for the very first time in May, MBS did NOT make new lows today! That's not for lack of tr...
Tue, May 14 2013, 12:18 PM
Please note the timestamp in the pricing snapshot below (11:09am EST). The mid-day post will always pull a snapshot of current prices between 11:00 a...
Tue, May 14 2013, 8:32 PM
On May 3rd, after NFP, we said: "historically, a move like today's that runs counter to more than a month of trending, has been more likely to mark th...
Tue, May 14 2013, 6:45 AM
Tuesday is the lightest day of the week in terms of scheduled data without only Import/Export prices in the 8:30am time slot. This report tends to no...
Mon, May 13 2013, 12:15 PM
Bond markets are again in short term consolidation mode (where the trading range of prices and yields grows increasingly narrow, forming what some ref...
Mon, May 13 2013, 7:45 AM
The week begins with the Retail Sales report, an uncommonly relevant piece of data to be in the 8:30am time-slot first thing Monday morning. It's m...
Mon, May 13 2013, 4:49 PM
This morning's Retail Sales report was only a small contributor to a sell-off that took it's more meaningful cues both from overnight trading as well ...
Fri, May 10 2013, 7:41 AM
At the risk of disappointing some the audience, let's skip the Top Gun shtick and focus on the danger zone that bond markets have been approaching thi...
Fri, May 10 2013, 6:16 PM
Today was a fairly jarring and brutal ride for bond markets--a true example of the sort of volatility that we often consider, but seldom see on data-f...
Fri, May 10 2013, 1:02 PM
Sorry to be getting the recap out to you later than normal, but updates and alerts for the MBS Live community are first and foremost, and on days l...
Thu, May 9 2013, 11:56 AM
The 30yr Bond Auction is coming up at 1pm, and while it's Treasuries that are being auctioned, the extra supply in the market has a moderate ripple ef...
Thu, May 9 2013, 7:46 AM
For the first time this week , we'll get economic data in the morning that actually stands a chance to move markets. In fact, the only 2 reports of ...
Thu, May 9 2013, 4:55 PM
To see the story told on MBS chart, it was an incredibly dramatic day
that ended with a steep sell-off. Several negative reprices late in the
day...
Wed, May 8 2013, 12:10 PM
Take note of the timestamp in the table below as things have changed somewhat from 11:09am EST. Bond markets put in good gains at the outset this mor...
Wed, May 8 2013, 6:37 AM
If bond market trading were a movie script , we're at that point just after "the girl" yells at "the guy." In the romantic comedies with the happy e...
Wed, May 8 2013, 4:15 PM
Today's trading was certainly more active than yesterday's in terms of both movement and volume. The movement started out on the weak side in US Hours...
Tue, May 7 2013, 11:38 AM
Much like yesterday, MBS opened in line with the lows from the previous afternoon (yesteray's "previous afternoon" would be Friday, of course). Also ...
Tue, May 7 2013, 7:37 AM
Monday stood a chance to be eventful, if for no other reason than it was the first day back after Friday's mega NFP sell-off. It turned out to be ex...
Tue, May 7 2013, 4:59 PM
You may have to imagine the title of today's MBS RECAP set to the tune of "Super Freak." Indeed, the trading day was freakishly flat as far as MBS we...
Mon, May 6 2013, 12:08 PM
With nothing on the economic calendar to move markets and no surprisingly inspirational headlines, MBS and Treasuries have been coasting along in a na...
Mon, May 6 2013, 7:21 AM
Apart from a round of Treasury auctions , the week ahead is exceptionally silent, with Thursday's initial Jobless Claims data being the only quasi-si...
Mon, May 6 2013, 4:34 PM
After losing as much ground as MBS and Treasuries lost on Friday, the breadth of expectations for today's trading widened considerably. The biggest r...
Fri, May 3 2013, 8:15 AM
Baseball has been very very good to us--doing a relatively perfect job of helping us characterize the "lead-off" that bond markets have been taking ...
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