Mon, Mar 18 2013, 12:38 PM
Bond markets rallied hard overnight on news that EU creditors seek to impose a levy on regular old private-sector bank deposits in Cyprus. 10's made ...
Mon, Mar 18 2013, 7:37 AM
In the week just passed, US bond markets spent almost all waking moments attempting to consolidate in a range that included the weakest levels in almo...
Mon, Mar 18 2013, 4:25 PM
Overnight news regarding a bailout plan for Cyprus dominated trading in Asian and European hours as markets took flight from riskier assets (and from ...
Fri, Mar 15 2013, 11:51 AM
Everything was pretty quiet this morning with volume and momentum not
really making much of an appearance until the 9:30am opening bell for
equiti...
Fri, Mar 15 2013, 6:37 AM
For third time in 4 days we've seen some compelling support come into
play in MBS and Treasuries. Not all of the support has come in at the
same ...
Fri, Mar 15 2013, 5:03 PM
MBS asked today's quadruple witching session: "et tu Friday?" but got the simple response: "nah, we're cool." So MBS just got up and walked away--hig...
Thu, Mar 14 2013, 11:44 AM
At first glance--and especially if we focus only on domestic
hours--today's trading session is looking a lot like yesterday's in that
we moved rat...
Thu, Mar 14 2013, 7:37 AM
As we said in yesterday's recap, Wednesday was "refreshingly
straightforward," with the overnight data suggesting logically stronger
opening level...
Thu, Mar 14 2013, 4:38 PM
Whereas yesterday's session was straightforward in both European and
domestic hours today's was a bit more enigmatic. Reason being: we had a
fair...
Wed, Mar 13 2013, 12:25 PM
The morning has been pretty straightforward
so far with a relatively positive overnight session getting a lift from
weaker European economic data...
Wed, Mar 13 2013, 7:37 AM
After two trading days that have been either devoid of market movers
or predominantly focused on overseas considerations, Wednesday offers a homeco...
Wed, Mar 13 2013, 4:54 PM
Today's session offered a refreshingly straightforward level of
connection between economic events and market movement. Even in the
overnight ses...
Tue, Mar 12 2013, 12:09 PM
Bond markets put in their best overnight gains in over a week this
morning and have managed to defend them into the domestic session.
German Bun...
Tue, Mar 12 2013, 6:37 AM
With no major domestic or overseas economic data on tap and no game-changing headlines expected ,
yesterday's excruciatingly slow session may well ...
Tue, Mar 12 2013, 4:35 PM
If you're a fan of high MBS prices and low rates, how depressing is it
to consider that today's rally was the best we've seen in over two
weeks, l...
Mon, Mar 11 2013, 12:09 PM
Not to be outdone by millions of Americans lamenting Daylight Savings Time, bond
markets haven't merely slept in an extra hour, but simply haven't s...
Mon, Mar 11 2013, 7:37 AM
After Friday's NFP-inspired sell-off, bond markets will be faced with the choice this week to continue to push the pace of the longer term trend high...
Mon, Mar 11 2013, 4:47 PM
There's no denying that it's a bit harder than average to get out of bed
on the Monday following "spring forward," but bond markets seem to have
a...
Fri, Mar 8 2013, 12:29 PM
The morning thus far has been a fairly straightforward sell-off in
response to much stronger-than-expected labor market data from this
morning's E...
Fri, Mar 8 2013, 7:14 AM
Bond markets traded poorly on Thursday, sliding back to their weakest
territory since before the Italian election. In the intervening time,
thing...
Fri, Mar 8 2013, 5:00 PM
Yesterday, we noted that Jobless Claims and
Mario Draghi's press conference delivered a one-two punch to the hopes
of sustaining recently improved...
Thu, Mar 7 2013, 12:35 PM
The overnight price action wasn't particularly interesting and
certainly failed to adhere to any of the recent patterns of flatness in
Asian marke...
Thu, Mar 7 2013, 7:49 AM
Markets have quickly gotten back in position ahead of the ECB, ready to
"forget" about Italy (or "be reassured" about Italy,
perhaps)--essentially...
Thu, Mar 7 2013, 4:29 PM
It's happened before and it will happen again in all likelihood, it will
happen again. ECB meetings tend to fall on the first Thursday of the
mon...
Wed, Mar 6 2013, 11:58 AM
Following last week's post-Italian election rally, which left MBS and Treasuries at the week's best levels by Friday afternoon,
this week has been a...
Wed, Mar 6 2013, 6:37 AM
With two trading days down so far this week, bond markets have shown
their cards, or at least that's what they want us to think. The "cards"
in q...
Wed, Mar 6 2013, 5:01 PM
In the title, the word "week" actually refers a whole week's worth of
trading sessions, and another day and a half on top of that. In other
words...
Tue, Mar 5 2013, 11:39 AM
The overnight session was a fairly straightforward affair with
reasonable strong economic data in Europe, plus some marginally
reassuring Italian ...
Tue, Mar 5 2013, 6:37 AM
On most weeks, it would be fair to assume that whatever the overall pace
and importance of economic data might be, that it would begin building
ri...
Tue, Mar 5 2013, 4:15 PM
Even as stock markets made new highs (either 5yr+ in terms of the
S&P or "all-time" in terms of the Dow), bond markets held on to the
same old "Po...
Mon, Mar 4 2013, 11:36 AM
MBS Live : MBS Morning Market Summary
++INSERT COMMENTARY HERE++
MBS Pricing Snapshot
Pricing shown below is delayed, please note...
Mon, Mar 4 2013, 7:51 AM
This week serves as something of a crossroads for bond markets
with respect to the longer term move higher in yields that began in the
summer of...
Mon, Mar 4 2013, 4:25 PM
The earlier recap referred to today as an 'extended weekend,' and that
continued to be unofficially the case for the rest of the session.
Dependi...
Fri, Mar 1 2013, 12:03 PM
The tone was decidedly weaker earlier in the morning as equities markets
rose steadily from 9:40am. Treasuries began the day in significantly
stro...
Fri, Mar 1 2013, 7:37 AM
Thursday made it clear that bond markets don't want to be here any more this week, nor do MBS. The longer term view of markets paints a picture of ...
Fri, Mar 1 2013, 4:35 PM
Heading into today, we characterized the prevailing range this week as
compelling, and that it would need to be confronted with a serious
surprise...
Thu, Feb 28 2013, 12:16 PM
MBS are currently showing their appreciation for Treasuries to hold the
line at yesterday afternoon's highs. In general, the faster the pace
and ...
Thu, Feb 28 2013, 6:37 AM
It's a bit of a predicament that bond markets find themselves in at the
moment, having looked very serious about breaking the recent trend
higher ...
Thu, Feb 28 2013, 4:42 PM
Flatness... That would be the best characterization for today's range
in MBS. Even as Treasuries and equities futures whipped around mildly
befo...
Wed, Feb 27 2013, 12:18 PM
Bond markets improved overnight very slightly and then more aggressively
after Beppe Grillo said he would not be supporting the formation of a
gov...
Wed, Feb 27 2013, 7:37 AM
On most other days, the lineup of data and events on Wednesday (yesterday too, for that matter) presents some serious market moving considerations. Y...
Wed, Feb 27 2013, 7:04 PM
Like a 'tyger in the forests of the night,' equities markets lie in
wait for the cash open at 9:30am at which point they found themselves
with a c...
Tue, Feb 26 2013, 11:50 AM
Bond markets experienced a moderate amount of volatility overnight,
improving from yesterday's already impressive rally into the European
hours an...
Tue, Feb 26 2013, 7:37 AM
Before yesterday morning's Italian election results rocked markets, we noted that the week promised to be "significantly more active in terms of data...
Tue, Feb 26 2013, 4:59 PM
Thank you Italy... Your political instability has trickled all the way
down to MBS, allowing production coupons to have their single best rally
d...
Mon, Feb 25 2013, 11:58 AM
Until this morning, outgoing Italian PM Mario Monti and leading center-left candidate Pier Luigi Bersani
had been expected to carry enough votes to ...
Mon, Feb 25 2013, 7:37 AM
In stark contrast to the 4 days that followed Presidents' Day, the week ahead promises to be significantly more active in terms of data and events . ...
Mon, Feb 25 2013, 4:59 PM
Treasuries and MBS rallied ferociously today after elections in Italy
turned out (or "are turning out" since they're not done yet) to be very
diff...
Fri, Feb 22 2013, 11:47 AM
On this data-free Friday, domestic markets have been relegated to watching tradeflows
after a more interesting overnight session. To that end, ...
Fri, Feb 22 2013, 7:40 AM
Thursday's robust batch of economic data brings the calendar of domestic
reports to a close for the week. This leaves Friday at the whim of
overn...
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