Tue, Jan 29 2013, 6:30 PM
Whether or not we agree that the " Great Rotation " will continue to, well... rotate, its inherent themes have been playing out in markets daily. Tod...
Tue, Jan 29 2013, 1:19 PM
MBS Live : MBS Morning Market Summary
Treasuries were slightly weaker during the first part of the overnight session, but stayed under Mond...
Mon, Jan 28 2013, 11:46 AM
The only thing we can be sure of at the moment is that bond markets are in weaker territory. They were weaker overnight. They were incrementally wea...
Mon, Jan 28 2013, 7:49 AM
For bond markets, and even markets in general, things don't get much busier than they will be this week in terms of economic data, potential market mo...
Mon, Jan 28 2013, 4:26 PM
Bond markets began the session in incrementally weaker territory than Friday afternoon after having held mostly steady in Europe and Asia. Bigger mov...
Fri, Jan 25 2013, 12:06 PM
As opposed to one of those enigmatic trading days where MBS and Treasuries are moving rapidly in either direction without clearly being associated to ...
Fri, Jan 25 2013, 7:06 AM
Two Thursdays in a row have offered downside surprises for Jobless Claims, resulting in downside days for bond markets. It wasn't the end of the worl...
Fri, Jan 25 2013, 4:49 PM
Overnight, the ECB reported on the LTRO repayments for the first time since handing out the cheap 3-yr loans in late 2011. It turns out more than hal...
Thu, Jan 24 2013, 12:03 PM
Sadly, our preoccupation with the "one week anniversary" of last week's Jobless Claims sell-off, turned out to be somewhat prophetic this morning as w...
Thu, Jan 24 2013, 7:42 AM
Last Thursday was the worst day for bond markets since the first trading day of 2013, when markets were reacting to Fiscal Cliff developments after a ...
Thu, Jan 24 2013, 4:28 PM
There was a chart in the morning commentary ( THIS one, actually) that showed a long term downtrend in MBS prices as well as a few horizontal levels....
Wed, Jan 23 2013, 12:13 PM
After improving moderately in the overnight session, there hasn't been much by way of major market-moving data. The morning's only scheduled econ--FH...
Wed, Jan 23 2013, 7:31 AM
Strange things are happening in Washington, or at least that's what we're meant to believe. If the Fiscal Cliff debate was any indication, then we we...
Wed, Jan 23 2013, 4:42 PM
Today saw the passage of the House bill to extend the Debt Ceiling deadline, which moves on to a Senate that's already indicated they'll send it to th...
Tue, Jan 22 2013, 12:02 PM
MBS began the day in weaker territory, though still in line with the lows from the narrow end of Friday's range. Treasuries chopped around in a reaso...
Tue, Jan 22 2013, 7:40 AM
With around one month left before hitting the debt ceiling, markets were geared up for a sideways grind, dominated by political uncertainty. Much lik...
Tue, Jan 22 2013, 4:28 PM
German economic sentiment data came in at the highest levels since May 2010... The House may pass legislation to extend the debt ceiling deadline unt...
Fri, Jan 18 2013, 11:55 AM
After moving to disconcertingly weak levels in the Asian session, bond markets rallied back during European hours, ultimately coming in the door sligh...
Fri, Jan 18 2013, 7:10 AM
Every so often we're reminded that financial markets are staffed by real people, and depending on how it turns out, Friday could be one of those days....
Fri, Jan 18 2013, 4:45 PM
Today served the purpose we were hoping to see it serve. Volume fell, prices rose, and we were left with the sense that Thursday was in fact the last...
Thu, Jan 17 2013, 12:09 PM
While bond markets haven't fallen back to this morning's lows, neither MBS or Treasuries have been able to make it back across technical resistance le...
Thu, Jan 17 2013, 7:40 AM
Markets have been surprisingly well behaved since opening the year with an ugly little sell-off. Treasuries have been following stocks through earnin...
Thu, Jan 17 2013, 4:59 PM
After Japan's Economy Minister said the Yen had room to move up to 100.0 before becoming problematic, overnight markets started moving higher in rate....
Wed, Jan 16 2013, 11:33 AM
In a completely unsurprising turn of events, bond markets continue to follow stock markets, albeit on a smaller scale. Still, the stock lever has had...
Wed, Jan 16 2013, 7:16 AM
It's earnings season again and while bond markets are certainly taking short term cues from equities, Treasuries and MBS have willfully chosen to cont...
Wed, Jan 16 2013, 4:33 PM
MBS Live : MBS Afternoon Market Summary
In several ways Wednesday's session was quite similar to Tuesday's. European and Asian markets coa...
Tue, Jan 15 2013, 11:37 AM
With the exception of last Thursday (ECB day), rates markets have been painstakingly descending the proverbial staircase following the elevator ride h...
Tue, Jan 15 2013, 7:29 AM
Rosengren's 8:00am speech may help set the tone early in the session, but three pieces of economic data hit at 8:30am , one of them being the importa...
Tue, Jan 15 2013, 4:15 PM
MBS and broader bond markets began the session in stronger territory after a reasonably supportive night in Asia and Europe. There were no major marke...
Mon, Jan 14 2013, 11:18 AM
While MBS prices were slightly higher in the middle of last week and on the first few days of the year, until Friday's roll, the price referred to Jan...
Mon, Jan 14 2013, 7:21 AM
With backs against the wall on Friday, and very much at risk of triggering a negative technical signal, bond markets battled back for their 2nd best c...
Mon, Jan 14 2013, 4:09 PM
Bond markets coasted into their best levels since the first trading day of the year and spent the rest of the day holding a tight range around those l...
Fri, Jan 11 2013, 12:24 PM
Bond markets got off to a rocky start in the overnight session following the announcement of new QE in Japan. US Treasuries then glued themselves fir...
Fri, Jan 11 2013, 7:45 AM
Thursday could have been a better day for bond markets... It could have marked bounce back below important technical levels in 10yr yields (lots of...
Fri, Jan 11 2013, 4:44 PM
Today's analysis on MBS Live was fraught with references to a metaphorical swimming pool on a cruise ship. The ship represents the longer term, bigge...
Thu, Jan 10 2013, 12:35 PM
The story so far this morning is as simple as the headline, with the slight addendum being that Chinese economic data actually began the push toward h...
Thu, Jan 10 2013, 7:42 AM
Bond markets continued to struggle with a decisive break below important technical levels in Treasuries. Despite holding on to gains in the morning...
Thu, Jan 10 2013, 4:58 PM
The day began with bond markets already on the back foot after stronger Chinese exports, a stronger Spanish debt auction, and an unchanged ECB policy ...
Wed, Jan 9 2013, 11:57 AM
After improving slightly during yesterday's first few trading hours, bond markets have been in the same aggressively sideways trend for over 24 hour...
Wed, Jan 9 2013, 6:26 AM
In an overdramatized sort of way, Wednesday will be " do or die " time for bond markets in that 10yr yields must either finally break back below the i...
Wed, Jan 9 2013, 4:46 PM
We started the week with a closer look at "tradeflows, " suggesting the most informative thing markets would have to offer guidance until today's 10y...
Tue, Jan 8 2013, 12:04 PM
As has been the case on many a morning where the Fed's scheduled Twist buying is the only salient market event ( read more on POMO's ), bond marke...
Tue, Jan 8 2013, 6:32 AM
There's a rather anemic effort at creating more noise on the part of the day's scheduled events on Tuesday. Apart from a few sentiment surveys in the...
Tue, Jan 8 2013, 4:17 PM
Bond markets continue rebuilding from the wreckage they woke up to on Friday morning. A great majority of that rebuilding effort was undertaken on Fr...
Mon, Jan 7 2013, 12:02 PM
As noted in the Week Ahead as well as the first update below, there's been little to inform market movements apart from traders watching and reactin...
Mon, Jan 7 2013, 7:05 AM
The week ahead is limited in terms of economic data and events, and while the Treaasury Auction cycle will provide some guidance for bond markets, the...
Mon, Jan 7 2013, 4:29 PM
Starting at noon, MBS have held inside a two tick range between 104-07 and 104-09 with eerie regularity. These were the same highs seen earlier thi...
Fri, Jan 4 2013, 11:34 AM
This morning's Day Ahead , pondering potential NFP outcomes, closed with the following thought: " The unpleasant fact about either scenario is Thu...
Fri, Jan 4 2013, 6:56 AM
Kicking the can down the road was all the rage a few days ago
when the cliche phrase was applied to the quasi-deal that softened the
blow of the ...
Fri, Jan 4 2013, 5:05 PM
What played out over the past two days has been almost exclusively a bond market phenomenon. Yesterday's FOMC Minute shake up had nothing to do with ...
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