Thu, Jan 3 2013, 11:49 AM
Even though yesterday's session wasn't technically "weak" between the open and close, it was definitely weaker day-over-day, as has been the case for ...
Thu, Jan 3 2013, 7:33 AM
For bond markets, Thursday will offer an opportunity to confirm that the PRE-Fiscal-Cliff-Deal range is also the POST-Fiscal-Cliff-Deal range . F...
Thu, Jan 3 2013, 4:56 PM
It's ironic that this morning's "day ahead," pondered the possibility that economic data would creep back into the picture today with ADP Employment i...
Wed, Jan 2 2013, 11:35 AM
Referring to the 11th hour passage of a Fiscal Cliff bill as a "deal," is an overstatement. But it's at least a "mini-deal," or depending on how impo...
Wed, Jan 2 2013, 8:13 AM
A few hours before the first business day of 2013, the House approved a bill to avert the Fiscal Cliff . Although some last minute effort was muster...
Wed, Jan 2 2013, 4:34 PM
The last-minute Fiscal Cliff deal clearly suggested that bond markets would have a tough day today , but with the nature of the deal being less than ...
Mon, Dec 31 2012, 11:29 AM
With Japanese markets closed, overnight trading activity was light. 10yr Treasuries began the European hours in slightly weaker Territory than Friday...
Mon, Dec 31 2012, 4:22 PM
Today's headlines generally erred on the site of optimism for some sort of stop-gap Fiscal Cliff agreement and Treasuries began taking their lumps ear...
Sun, Dec 30 2012, 10:16 PM
Both chambers of Congress worked over the weekend to ensure that no Fiscal Cliff deal would accidentally get passed or announced before the last poss...
Fri, Dec 28 2012, 11:38 AM
At first blush, headlines just before 11am indicating that the President
would offer up a scaled-back Fiscal Cliff deal today, seemed to be a
simp...
Fri, Dec 28 2012, 8:20 AM
After the closing bells on Thursday, the White House announced that the President would be meeting with Majority and Minority Leaders from both the ...
Fri, Dec 28 2012, 4:51 PM
For a trading day that had a good amount of potential for volatility,
today turned out the be pretty tame, especially for MBS which held a 6
tick ...
Thu, Dec 27 2012, 11:21 AM
As expected, Thursday has proven to be the first real trading day of the
week. Those expectations were due to the fact that it's the first day
of...
Thu, Dec 27 2012, 7:59 AM
Thursday is indeed the first day of the week as it's the first
day where politicians will be back in action, potentially churning out
last-minute...
Thu, Dec 27 2012, 4:19 PM
Treasuries put in a better performance than MBS today, thanks to the
"flight-to-safety" nature of this morning's rally. As expected,
economic dat...
Wed, Dec 26 2012, 11:46 AM
Equities were one of the only places that bond markets were going to get
any sort of guidance today given the fact that economic data is
inconsequ...
Wed, Dec 26 2012, 7:48 AM
After a day and a half off, markets return to a full session on
Wednesday, but only in the sense that markets are open all day. Beyond
the techni...
Wed, Dec 26 2012, 4:51 PM
Considering that the Thanksgiving holiday always begins with full market
closure on a Thursday, you can usually count on the juxtaposed Friday to
...
Mon, Dec 24 2012, 11:23 AM
As-expected, it's been a silent morning for US trading and a surprisingly 'silent night' in Europe as well. There are no market movers, no instances o...
Mon, Dec 24 2012, 8:16 AM
If left to its own devices, the week ahead would be almost a complete non-issue, with little volume and inconsequential volatility due to 2-day Christ...
Fri, Dec 21 2012, 11:36 AM
Risk markets tanked early in the overnight session (stocks and bond yields sharply lower) after news hit that the House didn't have enough support for...
Fri, Dec 21 2012, 8:59 AM
Whereas Thursday's session was characterized as a bit tricky due to the uncertain balance of importance between economic data and pervasive Fiscal C...
Fri, Dec 21 2012, 4:19 PM
There was little reaction to this morning's economic data at 8:30am despite the fact that both reports were stronger-than expected. Consumer Sentimen...
Thu, Dec 20 2012, 11:48 AM
Similarities abound between Wednesday and Thursday across the market. In both cases, the overnight session began with a moderately positive tone for ...
Thu, Dec 20 2012, 7:14 AM
Thursday's session is a bit tricky . Any value over time can be charted, and the general tone/sentiment/optimism of the Fiscal Cliff debate is no ex...
Thu, Dec 20 2012, 4:18 PM
A big haul of economic reports had little lasting impact on trading levels this morning, but the stronger Philly Fed Index at 10am was enough to sugge...
Wed, Dec 19 2012, 12:10 PM
Today's trading has provided a bit of relief to yesterday's disconcerting run at technical boundaries. Even though past precedent suggests we may wel...
Wed, Dec 19 2012, 4:11 PM
The tone of the overnight session was serene and slightly positive for bond markets at first, but quickly became dicey as the pre-market domestic crow...
Tue, Dec 18 2012, 12:12 PM
Production MBS Prices are currently in line with a range of post-QE3 lows seen in late October and
traded to their lowest outright levels today sinc...
Tue, Dec 18 2012, 8:55 PM
With the help of QE3, MBS have been able to construct an impressive, even if metaphorical castle over the past four months. This can be thought of as...
Tue, Dec 18 2012, 7:46 AM
Last Wednesday, we characterized the impending FOMC-related events as "the best chance in almost a month
to see more than 5bps of movement in 10yr y...
Tue, Dec 18 2012, 4:40 PM
MBS and Treasury prices have been cliff-diving due to the Fiscal Cliff. This isn't because bond markets are worried about going over the Fiscal Cliff...
Mon, Dec 17 2012, 11:26 AM
Today's trading is kicking off the week in a mostly typical Monday sort
of way with ranges relatively contained, volume on the light side and
limi...
Mon, Dec 17 2012, 7:47 AM
After holding supportive ground on Friday, bond markets may be facing
the prospect of defending that stability before Monday's domestic
session be...
Mon, Dec 17 2012, 4:20 PM
There was very little out today by way of market moving data, at least not the kind that elicits immediate reaction in financial markets. Instead (an...
Fri, Dec 14 2012, 12:02 PM
Today was all about confirming whether or not bond markets would
be able to hold their ground before breaking through important technical
suppor...
Fri, Dec 14 2012, 7:31 AM
To whatever extent a dip into the low 104's is scary business for
Fannie 3.0 MBS or that a 10yr yield rising into the 1.7's is cause for
concern, ...
Fri, Dec 14 2012, 4:36 PM
Today was one of those sessions that seemed to unofficially end early.
Bond markets rallied all morning--albeit in a micro range for MBS--and
cam...
Thu, Dec 13 2012, 12:09 PM
Bond markets kicked off the day in unchanged-to-weaker territory,
extending yesterday's post-FOMC losses. Economic data actually made a
dent with...
Thu, Dec 13 2012, 7:28 AM
If nothing else, today should at least be "informative." When it comes to perfecting the recipe for market movement into 2013, there are too many ...
Thu, Dec 13 2012, 4:41 PM
Most of today's damage was done by 10am as bond markets walked in the
door in weaker territory and were dealt a hand of surprisingly strong
econom...
Wed, Dec 12 2012, 12:25 PM
Information received since the Federal Open Market Committee met in
October suggests that economic activity and employment have continued to
expan...
Wed, Dec 12 2012, 12:03 PM
As expected, the 10yr Treasury auction didn't pack its traditional level
of market-moving punch with the relatively much more important FOMC
event...
Wed, Dec 12 2012, 7:41 AM
Omnipresent Fiscal Cliff headlines have been muting the impact of
almost all economic events in the past several weeks. As expected,
markets have...
Wed, Dec 12 2012, 4:54 PM
Today's FOMC Announcement brought some interesting changes to way the
Fed will be communicating monetary policy going forward. The most notable ch...
Tue, Dec 11 2012, 11:54 AM
MBS have once again entered in to a narrow, sideways holding pattern,
though this morning's version follows a move to the downside at the
open. M...
Tue, Dec 11 2012, 7:18 AM
Two to three years ago , today's lineup of economic data and
market events would have been much more meaningful. International Trade
at 8:30am wo...
Tue, Dec 11 2012, 4:39 PM
As far as domestic trading hours were concerned, today was even flatter
than yesterday's exceptionally well-contained session for both MBS and
Tre...
Mon, Dec 10 2012, 11:45 AM
Domestic bond markets took most of their short term directional cues
from European events overnight, though the broader themes set the limits
of t...
Mon, Dec 10 2012, 8:45 AM
By the end of this week, bond markets will only have 8 full sessions left in 2012 .
In December, the first two week's of the month are almost alwa...
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