Mon, Apr 1 2013, 8:07 AM
With the failure to make any meaningful progress last week, the 2013 version of Italy's political crisis has come to a head. On the same day that U...
Mon, Apr 1 2013, 4:18 PM
To reiterate that which has already been said, today's price movements in MBS belied the level of activity in bond markets. While MBS weren't quite as...
Thu, Mar 28 2013, 11:25 AM
Although bond markets have been far from completely flat--in fact there was a solid 4bp swing in 10yr Treasuries overnight--both MBS and Treasuries ar...
Thu, Mar 28 2013, 7:47 AM
Today should be interesting to say the least. As is frustratingly the case on days where the biggest potential market movement is reserved for Eu...
Thu, Mar 28 2013, 4:37 PM
Today was an uncommon combination of strong volume and insanely contained price ranges. It's not a frequent occurrence and even less so outside quart...
Wed, Mar 27 2013, 12:01 PM
MBS and Treasuries have come off their best levels of the morning just slightly, but remain in significantly better territory vs yesterday's latest le...
Wed, Mar 27 2013, 8:07 AM
With the benefit of one additional day having transpired in this, the "Cyprus Bailout Week," we're quickly seeing that Cyprus-related trading fluctuat...
Wed, Mar 27 2013, 5:27 PM
The domestic hours, like so many past examples, turned out to be relatively contained by the time European markets had their say. This time, they sai...
Tue, Mar 26 2013, 12:00 PM
Something remarkable has happened. Well, it's remarkable relative to the recent trend of shunning domestic economic data in favor of European headlin...
Tue, Mar 26 2013, 7:27 AM
Monday saw MBS and Treasuries both end up at levels very close to Friday's close. In and of itself, that suggests the day was uneventful and sideways...
Tue, Mar 26 2013, 5:08 PM
Bond markets started out the session heading into weaker territory after a tepid, but moderately positive overnight session for European risk markets....
Mon, Mar 25 2013, 12:03 PM
Global markets reacted in a relatively predictable fashion following news late Sunday that Cyprus and the EU had reached a bailout agreement. Treasur...
Mon, Mar 25 2013, 7:42 AM
Without any significant scheduled economic data, Monday provides an ideal opportunity to let European headline risk play out after a tentative Cyprus...
Mon, Mar 25 2013, 5:03 PM
There was a sense at the end of last week, looking back over the regular sideways trading patterns in bond markets, that we'd "been had," in a way. W...
Fri, Mar 22 2013, 12:08 PM
From a market watching standpoint, today has been an example of one of the least stressful "headline risk" environments. Indeed, markets are highly r...
Fri, Mar 22 2013, 7:40 AM
Imagine riding a bike, or an equivalent rote gross motor activity involving the navigation of a certain path. In this example, we'll use the bike. N...
Fri, Mar 22 2013, 4:58 PM
MBS Live : MBS Afternoon Market Summary
++INSERT COMMENTARY HERE++
MBS Pricing Snapshot
Pricing shown below is delayed, please no...
Thu, Mar 21 2013, 12:45 PM
The overnight and domestic bumper crops of economic data were fairly uneventful in the a super-zoomed frame of reference and utterly flat in the bigge...
Thu, Mar 21 2013, 7:37 AM
Thursday brings the most robust day of economic data of the week by far. There are Markit Purchasing Manager's Indexes all across the Eurozone during...
Thu, Mar 21 2013, 4:40 PM
This stuff is like candy! Markets just can't get enough of the endless barrage of Cyprus-related headlines. It hearkens back to the heady days of Gr...
Wed, Mar 20 2013, 12:07 PM
There's been a bit of a lull in the action so far today--as one might reasonably expect given the upcoming FOMC Announcement, Forecasts, and press con...
Wed, Mar 20 2013, 7:03 AM
Another day, another chance to sit and wait for every little headline even remotely related to Europe and to assess whether or not it suggests a chang...
Wed, Mar 20 2013, 4:28 PM
Almost all day long, markets did almost nothing, almost... Bond markets coped with an adjustment lower in price/higher in yield heading into the dome...
Wed, Mar 20 2013, 2:03 PM
Information received since the Federal Open Market Committee met in January suggests a return to moderate economic growth following a pause late last ...
Tue, Mar 19 2013, 12:06 PM
Domestic bond markets edged back into territory not seen since the week of the Italian election--the last major bullish event for Treasuries and MBS. ...
Tue, Mar 19 2013, 7:26 AM
Heading into a week expected to be more focused on Wednesday's FOMC Announcement, press conference, and updated forecasts, we instead got treated to t...
Tue, Mar 19 2013, 4:28 PM
Headlines concerning the Cyprus bailout and it's various components streamed in at a healthy clip almost all day. As such, bond markets rallied almos...
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...
MBS Market Alerts
