Wed, May 30 2012, 11:21 PM
Wednesday was quite a day for bond markets--a record-setting day on many fronts. While we can appreciate that there are some claims that 10yr Yields ...
Wed, May 30 2012, 6:28 AM
Today's calendar of US economic data is the lightest of the week with Pending Home Sales the only monthly report. Other items dot the calendar, such ...
Wed, May 30 2012, 4:16 PM
MBS Live : MBS Afternoon Market Summary
While "record levels" for MBS have been a relatively common occurrence in the past month as Fannie ...
Tue, May 29 2012, 11:17 AM
MBS Live : MBS Morning Market Summary
It's been a relatively quiet and uneventful morning for bond markets so far. Rather than chase rall...
Tue, May 29 2012, 4:21 PM
MBS L ive : MBS Afternoon Market Summary
MBS prices fell fairly steadily into and after the 2pm hour, eventually bottoming out just below curr...
Mon, May 28 2012, 8:42 PM
As US markets were closed for Monday's Memorial Day Holiday, there was little fanfare out of European markets, even if there is a growing sense that S...
Fri, May 25 2012, 11:38 AM
MBS Live : MBS Morning Market Summary
Bond markets made a quick head fake in a weaker direction following the better-than-expected Consumer...
Fri, May 25 2012, 4:10 PM
MBS Live : MBS Afternoon Market Summary
There's little to report outside the two words in the title. Today truly was an "uneventful session." ...
Thu, May 24 2012, 11:27 AM
MBS Live : MBS Morning Market Summary
There's not really much to today's weakness. It's moderate, it's steady, and it began yesterday. After hi...
Thu, May 24 2012, 11:10 PM
Yesterday morning, we suggested that markets might do something "sneaky" and make some sort of moderate movement seemingly tied to economic data when ...
Thu, May 24 2012, 7:52 AM
With very limited data and an early close on Friday, today will serve as the last trading day of the week in many regards. For starters, it's the l...
Thu, May 24 2012, 4:09 PM
MBS Live : MBS Afternoon Market Summary
This morning, we suggested that markets are relatively out of trading ideas until the next big-tic...
Wed, May 23 2012, 11:38 AM
MBS Live : MBS Morning Market Summary
While it may have mostly run it's course by now, the morning has been dominated by big moves in several ...
Wed, May 23 2012, 4:08 PM
MBS Live : MBS Afternoon Market Summary
Once again bond markets came into the session at better levels achieved during overnight trading. In f...
Tue, May 22 2012, 11:28 AM
MBS Live : MBS Morning Market Summary
Bond markets continue trying to hold their ground so far this morning against what, thus far, looks t...
Tue, May 22 2012, 10:49 PM
As noted in the MBS RECAP, yesterday was basically spent bouncing back from overnight weakness. The weakness itself was somewhat frustrating in that ...
Tue, May 22 2012, 8:00 AM
Overnight volume leading into yesterday's session made it seem like it might turn out surprisingly strong, but Treasury trading around 4am New York ti...
Tue, May 22 2012, 4:22 PM
MBS Live : MBS Afternoon Market Summary
MBS spent the day doing battle with weakness from the overnight session, and were certainly success...
Mon, May 21 2012, 11:21 AM
MBS Live : MBS Morning Market Summary
With the passing of the 10:15-11:00am scheduled "Operation Twist" buying from the Fed, we now know w...
Mon, May 21 2012, 4:15 PM
MBS Live : MBS Afternoon Market Summary
Bo nd markets continued the process of leveling off after hitting their strongest levels on 5/17....
Sun, May 20 2012, 7:52 PM
The line-up of economic data in the week ahead is one of the lightest of the year. Monday is essentially data-free. The following two days of the we...
Fri, May 18 2012, 11:22 AM
MBS Live : MBS Morning Market Summary
As the trading day progresses, things are shaping up to be increasingly uneventful even though MBS ar...
Fri, May 18 2012, 4:16 PM
MBS Live : MBS Afternoon Market Summary
104-16 Turned out to be an important level for Fannie 3.5's today. There's more than the usual amo...
Thu, May 17 2012, 11:24 AM
MBS Live : MBS Morning Market Summary
The main market-mover of the morning was the release of the Philadelphia Fed Survey, the chief component of...
Thu, May 17 2012, 11:22 PM
With so many unprecedented and hefty considerations, markets might enjoy today's complete absence of scheduled economic data as some sort of chance to...
Thu, May 17 2012, 8:07 AM
If the calendar of upcoming events and y'day's volume are any indication, it's possible that Wednesday was the climactic final scene before the interm...
Thu, May 17 2012, 4:45 PM
MBS Live : MBS Afternoon Market Summary
Two of our favorite made-up terms joined forces today to carry MBS to yet another all-time high and 10...
Wed, May 16 2012, 11:30 AM
MBS Live : MBS Morning Market Summary
The main market-mover this morning was a CNBC interview with Angela Merkel . In it, the German cha...
Wed, May 16 2012, 8:10 AM
Wednesday looks to be a different animal than Tuesday's rather logical and well-contained session. Yesterday boasted one of the highest concentration...
Wed, May 16 2012, 4:11 PM
MBS Live : MBS Afternoon Market Summary
We characterized yesterday as "logical and well contained" with the benefit of some hindsight. Whil...
Wed, May 16 2012, 2:15 PM
One of the themes discussed at the MBA’s recent conference in New York was the idea of “a merger” of the mortgage-backed securities issued by Fannie...
Tue, May 15 2012, 11:23 AM
MBS Live : MBS Morning Market Summary
Fewer mornings this year have been busier from an economic data standpoint, and that fact will be ap...
Tue, May 15 2012, 7:08 AM
Today's data includes Retail Sales, The Consumer Price Index, and The Empire State Manufacturing survey... And that's just the 8:30am time slot! Tre...
Tue, May 15 2012, 4:23 PM
MBS Live : MBS Afternoon Market Summary
Today we got to see just how inconsequential our domestic data can be in the face of global financi...
Mon, May 14 2012, 11:26 AM
MBS Live : MBS Morning Market Summary
Fundamentally, little has changed over the weekend or this morning as markets continue flying holding...
Mon, May 14 2012, 8:58 AM
What had been an overwhelmingly narrow and orderly month-long rally in Treasuries got a moderate dose of volatility last week as Greece took center st...
Mon, May 14 2012, 4:23 PM
MBS Live : MBS Afternoon Market Summary
Put another hash mark on the wall in the "uneventful, sideways trading day at all-time highs for M...
Fri, May 11 2012, 11:26 AM
MBS Live : MBS Morning Market Summary
By now it should be reasonably understood that there is no hard and fast rule that says stock prices ...
Fri, May 11 2012, 7:31 AM
The pace of data and events slows down appreciably today as the Treasury Auction cycle, MBS settlement, and most of the week's economic data is behind...
Fri, May 11 2012, 4:20 PM
MBS Live : MBS Afternoon Market Summary
Volume was fairly light today for MBS and Treasuries alike. Both were more keen to take the casual obse...
Thu, May 10 2012, 11:47 AM
MBS Live : MBS Morning Market Summary
We don't say the following in an attempt to be funny, but markets are flat again. It feels like we continu...
Thu, May 10 2012, 7:53 AM
History was made on Wednesday as the US Treasury assigned it's first ever 1.75% coupon to a 10yr Treasury auction. That's more of a piece of water-co...
Thu, May 10 2012, 4:18 PM
MBS Live : MBS Afternoon Market Summary
After days and days watching MBS get ground into the ceiling at all-time highs despite falling Trea...
Wed, May 9 2012, 11:24 AM
MBS Live : MBS Morning Market Summary
MBS and Treasuries both opened up at strong levels, the former at all-time highs, and the latter at the lo...
Wed, May 9 2012, 8:02 AM
Tuesday wasn't a good day to be MBS, at least not compared to Treasuries. We began the session with less by way of overnight improvements, gained les...
Wed, May 9 2012, 4:19 PM
MBS Live : MBS Afternoon Market Summary
This may be the last time we get to say this for a while but MBS--particularly
Fannie 3.5's--just...
Tue, May 8 2012, 11:23 AM
MBS Live : MBS Morning Market Summary
New All Time Highs For MBS!!!! Wait... It's sort of anti-climactic really. Rate sheets aren't much ...
Tue, May 8 2012, 8:40 AM
Diligent readers of this commentary might ask themselves: "I wonder if those guys know how much FLAT, DEAD, BORING, and SIDEWAYS has been in the comme...
Tue, May 8 2012, 4:12 PM
MBS Live : MBS Afternoon Market Summary
In the intermediate term (about a month, perhaps), MBS have been utterly and completely outperforme...
Mon, May 7 2012, 11:29 AM
MBS Live : MBS Morning Market Summary
Without anything else on the calendar and the more significant European-election-inspired convulsions...
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