Fri, Jan 28 2011, 8:28 AM
A slim gain pushed the benchmark S&P 500 to its highest level since
August 2008 yesterday. On the final day of the week, equities are
improved eve...
Fri, Jan 28 2011, 4:19 PM
MBSonMND : MBS RECAP
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FNMA 3.5
...
Fri, Jan 28 2011, 1:04 PM
Concurrent with a 1.4% stock sell off and civil unrest abroad,
benchmark Treasuries have benefitted from a flight to safety. This has
led "rate sh...
Thu, Jan 27 2011, 11:18 AM
MBSonMND : MBS MID-DAY
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FNMA 3.5
...
Thu, Jan 27 2011, 8:28 AM
Interest rates are up and equity futures are slightly improved this
morning after Standard & Poor’s cut Japan’s sovereign credit rating
one notch ...
Thu, Jan 27 2011, 5:36 PM
So we picked up the rocks and moved them to the other side of the room
today. Tomorrow we’ll probably just move the rocks back to the other
side ...
Thu, Jan 27 2011, 4:16 PM
MBSonMND : MBS RECAP
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FNMA 3.5
...
Thu, Jan 27 2011, 1:51 PM
Treasury hs successfully auctioned $29 bln 7 year notes ( Full Results ).
After yesterday's better-than-expected turnout amount indirect bidder...
Wed, Jan 26 2011, 11:27 AM
In other words, bonds could trade in any direction this morning without implying anything about how they will trade after FOMC.
Wed, Jan 26 2011, 11:19 AM
Yields moved higher after the New Home Sales report, but failed to break through what we'd consider a nominal morning target around 3.40. It's possibl...
Wed, Jan 26 2011, 8:16 AM
Looking ahead to new homes sales data and the release of the FOMC statement this afternoon, interest rates are moving higher and equity futures are r...
Wed, Jan 26 2011, 4:20 PM
The OTR market doesn't necessarily tell as clear of a story at the moment as 10yr futures. The picture there is clear, as we see both days contain a s...
Wed, Jan 26 2011, 2:50 PM
The bond market did not see "no news" as "good news". Benchmark 10 year TSY notes are teetering on a move through 3.42% support that might lead to ano...
Wed, Jan 26 2011, 1:46 PM
Treasury successfully auctioned $35 bln in 5 year notes (Full Results). Demand was strong, and the high yield was a bit lower than when-issued yields...
Tue, Jan 25 2011, 11:18 AM
Although traders were quick to book a profit and sell short the 10 year note after a much stronger than expected read on Consumer Confidence, the mid-...
Tue, Jan 25 2011, 10:47 AM
While we can certainly say the bond market lost composure after 10am Consumer Confidence data, it's not an outright defeat. Technical support has com...
Tue, Jan 25 2011, 9:19 AM
10s are currently testing a long-term 50% fibonacci retracement. The market's first attempt to break that technical resistance level has failed. If w...
Tue, Jan 25 2011, 8:35 AM
Benchmark interest rates are rallying and equity futures are weaker after markets learned the British economy unexpectedly shrank in the fourth quarte...
Tue, Jan 25 2011, 4:48 PM
Budget Deficits. Entitlements. Slow Growth. Tough Choices. Spending Freezes........Civil Unrest! Sounds a lot like Europe doesn't it?
Tue, Jan 25 2011, 4:18 PM
After 1pm, 10yr notes rallied nearly 8bps by 2pm. Since then yields have consolidated into a narrow range around 3.32 where they recently crossed the ...
Tue, Jan 25 2011, 1:01 PM
Treasury just sold $35 billion 2 year notes maturing on Jan. 31, 2013.
Dealers had to bite the bullet on this one...
For the second 2-year not...
Mon, Jan 24 2011, 11:28 AM
President Obama will give the State of the Union address tomorrow night and the FOMC will release their first policy statement of 2011 on Wednesday af...
Mon, Jan 24 2011, 11:21 AM
With respect to the previously discussed trend channel, 10yr note yields are at the lower end of that range at 3.3926. This rangebound behavior has no...
Mon, Jan 24 2011, 8:59 AM
The week ahead is busy to say the least. President Obama will give the State of the Union Address on Tuesday night. The Federal Reserve will hold a t...
Mon, Jan 24 2011, 5:44 PM
In preparing for upcoming headline events we almost don't need to ask ourselves if today's silence means something. It's pretty much a given...
Mon, Jan 24 2011, 4:16 PM
In the previous update, we noted the potential net effect of earlier movements in the 10yr yield could serve to merely adjust the range of the trend-c...
Mon, Jan 24 2011, 1:51 PM
Wednesday's FOMC statement will include the perspective of 3 new voters: Charles Plosser, Richard Fisher, and Charles Evans. The FOMC statement will h...
Fri, Jan 21 2011, 12:23 PM
Referring to anything today as "pivotal," is a bit of an overstatement considering the lack of data and volume, but from a technical perspective, 10yr...
Fri, Jan 21 2011, 11:23 AM
This is a promising development for bonds, although overall volume today may not be high enough to tell us much more. Yesterday, 10yr yields ticked ju...
Fri, Jan 21 2011, 8:46 AM
The bond market needs more motivation if it is to commit to a broad based shift in bias. Until then we keep playing the range.
Fri, Jan 21 2011, 5:25 PM
NEXT WEEK: State of the Union, FOMC Meeting, Treasury Auctions, GSE Reform, Earnings Galore, and a busy economic calendar including Consumer Confidenc...
Fri, Jan 21 2011, 4:23 PM
10yr yields decidedly into 3.41's now and MBS are happy about that. But this is more like the happiness that comes from the passing of a risky situati...
Thu, Jan 20 2011, 11:23 AM
Calling reprices gets a little tricky here as some lenders were a little slow to price this AM while others published at their usal time. The earlier ...
Thu, Jan 20 2011, 11:18 AM
With only 26 minutes having passed since the data that threatened to push bonds out of their recent range, we're still in the "so far so good" stages ...
Thu, Jan 20 2011, 9:19 AM
This week's data is more important than usual because it covers claims in the week ending January 15th...which includes the 12th day of the month. Why...
Thu, Jan 20 2011, 8:28 AM
Wednesday’s stock sell-off has been extended. Equity futures are pointing to a lower open this morning after the S&P 500 shed 1% yesterday, a result o...
Thu, Jan 20 2011, 4:19 PM
The volume spike following the tips auction was immense. 1pm - 130pm was the highest volume of any 30 minute period today. 10yr contracts approached t...
Thu, Jan 20 2011, 1:56 PM
If you have not yet seen reprices for the worse, they're likely on the way after an unexpectedly weak 10yr TIPS auction jolted "rate sheet influential...
Wed, Jan 19 2011, 11:15 AM
A recap of MBS microposts and featured comments on the MBSonMND live discussion chat board.
Wed, Jan 19 2011, 8:19 AM
Investors are keeping both stock and bond markets flat as we await Q4 earnings from Goldman Sachs, State Street, U.S. Bank, and Wells Fargo. On top of...
Wed, Jan 19 2011, 4:17 PM
Stocks, bonds, and MBS continue to drift sideways in after hours trading at 1280 in the S&P 3.337 in the 10yr, and 102-14 in FNCL 4.5's. Any lenders w...
Wed, Jan 19 2011, 1:29 PM
MBS and TSYs are near their best levels of the day and reprices for the better have been widely reported. The stock lever can be cited as a source of ...
Tue, Jan 18 2011, 11:20 AM
After failing to confirm a breakout from the recent range, benchmark 10-year yields have spiked higher in an aggressive manner. This illustrates the r...
Tue, Jan 18 2011, 10:38 AM
After failing to confirm a break of the broader 3.27 to 3.56% range, benchmark 10 year TSY yields shot 13bps higher in an aggressive manner this morni...
Tue, Jan 18 2011, 8:56 AM
The week ahead is relatively quiet on new data, the housing market will however be in focus with three new reports set to print. Investors will be wat...
Tue, Jan 18 2011, 6:04 PM
As long as this range prevails, it's lowest yield levels continue to be ideal lock suggestions, while it's weaker levels are entry points better suite...
Tue, Jan 18 2011, 4:20 PM
A recap of MND microposts and featured comments from MBSonMND's live market discussion .
Fri, Jan 14 2011, 11:17 AM
Following the 9:55am consumer sentiment report, MBS FNCL 4.5's are holding near highs at 102-25 while benchmark 10's continue to grind into their own ...
Fri, Jan 14 2011, 9:00 AM
The great margin squeeze of 2011 is coming for consumers and producers.
Fri, Jan 14 2011, 8:22 AM
On this Friday before a long holiday weekend, both interest rate prices and equity futures are trading lower on news that China will lift bank reserve...
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