Wed, Oct 20 2010, 12:42 PM
"This is your central bank. This is your Federal Open Market Committee. This is your country. May we all hope that a kind providence will give us the ...
Wed, Oct 20 2010, 11:22 AM
Rate sheet influential MBS coupons continue to benefit from favorable supply and demand technicals and an on-going chase for yield. As a result, produ...
Wed, Oct 20 2010, 8:29 AM
U.S. federal regulators will meet on Wednesday to discuss the foreclosure crisis amid concerns it could affect the housing market and broader economy,...
Wed, Oct 20 2010, 1:59 PM
There has been a modest uptick in activity but the fundamentals of a sustained economic recovery are not present. The question is: ARE MODEST IMPROVEM...
Tue, Oct 19 2010, 12:49 PM
Stocks are flagging lower, the yield curve is bull flattening, and positive price appreciations across the curve have led rate sheet influential MBS ...
Tue, Oct 19 2010, 9:19 AM
Rates did react negatively to the release but it is important to note that weakness was present in the bond market prior to 830 housing data. There's...
Tue, Oct 19 2010, 8:24 AM
Interest rates are higher and stock futures are falling ahead of housing starts and building permits data. Further clarity on the Federal Reserve’s pl...
Mon, Oct 18 2010, 11:45 AM
The long end of the yield curve is catching a corrective bid and "rate sheet influential" MBS coupons are tagging along for the ride. Rebate is a litt...
Mon, Oct 18 2010, 8:56 AM
A slow macroeconomic data calendar in the week ahead includes industrial production today and housing starts Tuesday, but more important may be the he...
Fri, Oct 15 2010, 11:50 AM
The pain trade is playing out in the long end of the yield curve but "rate sheet influential" MBS coupons are displaying resiliency.
Fri, Oct 15 2010, 8:41 AM
Ben was clear that QEII is coming, but was very cautious when discussing possible policy approaches in relation to the two headed mandate monster. The...
Fri, Oct 15 2010, 7:41 AM
If another QE program is to be effective, the Fed will need to expend much energy managing the market's rational expectations. This means the FOMC's c...
Fri, Oct 15 2010, 2:16 PM
Benchmark 10s are at session price lows/yield highs, which has dragged "rate sheet influential" MBS coupon prices even lower.
If you have not recei...
Thu, Oct 14 2010, 12:15 PM
Benchmark 10s are just about back to their session high yield as Treasury prepares to release the results of their $13 billion long bond fundraiser. T...
Thu, Oct 14 2010, 8:59 AM
Rate sheet influential MBS prices are basically flat but likely heading lower ahead of the bond auction (IMO). Reprices for the better were not wides...
Thu, Oct 14 2010, 8:28 AM
Benchmark interest rates traded in a tight range overnight near yesterday's yield lows while equity futures ticked sideways near yesterday's highs. Cu...
Thu, Oct 14 2010, 2:07 PM
Lock desks have plenty of pipeline coverage after selling forward about $5.5 billion in loan supply over the past two days. That left dealers long yes...
Wed, Oct 13 2010, 8:42 AM
The yield curve is steeper and benchmark interest rates are higher ahead of a $21 billion 10-year Treasury note auction. The 2s/10s curve is 3bps stee...
Wed, Oct 13 2010, 2:51 PM
"Rate sheet influential" TSYs have found a bid after running into a key technical support level. To the delight of the dealer community, flows have sh...
Wed, Oct 13 2010, 1:01 PM
It is widely anticipated that the Fed will announce QEII in the not so distant future, which should push bond prices higher and lead yields lower. Fro...
Tue, Oct 12 2010, 9:37 AM
The December FNCL 3.5 is trading +0-08 at 101-03. Trading flows are thin ahead of the 3 year note auction and FOMC minutes but rates are recovering fr...
Tue, Oct 12 2010, 8:55 AM
The holiday shortened week ahead is filled with data, Federal Reserve speakers, debt auctions, and the beginning of earnings season
Tue, Oct 12 2010, 5:39 PM
After a slow overnight session that left rates better bid heading into the domestic trading day, benchmark TSY yields and rate sheet influential MBS p...
Tue, Oct 12 2010, 2:03 PM
"Although participants considered it unlikely that the economy would reenter a recession, many expressed concern that output growth, and the associate...
Tue, Oct 12 2010, 1:08 PM
Treasury has just auctioned $32 billion 3-year notes. Even though the market did its best to let the issue cheapen, record low yields and a generally ...
Fri, Oct 8 2010, 10:19 AM
I have waited and waited and waited to do this but I think I can safely award the 3.5 MBS with the official production coupon designation. YAY! 30 ye...
Fri, Oct 8 2010, 8:40 AM
QUICK RECAP: NFP: -95K vs. call for UNCH vs. Aug -57K. Private Sector +64K jobs vs. call for +75. vs. +93K in August. Government job cuts total 159K v...
Fri, Oct 8 2010, 7:58 AM
Economists polled by Reuters currently believe the report will show the labor market was flat last month after 54k jobs were lost in August. Private e...
Fri, Oct 8 2010, 3:37 PM
If you haven't gotten a reprice for the worse yet, you will be soon. If you have gotten a reprice for the worse, I don't rule out another round of reb...
Fri, Oct 8 2010, 1:00 PM
The primary mortgage market just got more competitive! Lenders are begging consumers to lock in their loans!!!
Thu, Oct 7 2010, 12:59 PM
Can it get any better than this? Sure. Not all lenders are offering 3.875% pricing yet, some desks need to catch up. If we hold at record MBS price le...
Thu, Oct 7 2010, 8:49 AM
If the data doesn't match expectations, 10s would move into the low 2.30s% and rebate would improve a few more bps while MBS would lag a continued ral...
Thu, Oct 7 2010, 8:26 AM
Benchmark interest rates are marginally higher and equity futures are mixed following an awful report Wednesday on private employment from Automatic D...
Wed, Oct 6 2010, 12:46 PM
Spurred on by a weak preview of official labor market data to come, the bond market upped the anti on quantitative easing this morning when the 10 yea...
Wed, Oct 6 2010, 8:17 AM
ADP says: "The decline in private employment in September confirms a pause in the economic recovery already evident in other data. A deceleration of e...
Wed, Oct 6 2010, 8:05 AM
Good Morning. Both stocks and bonds are both rallying (again) ahead of the ADP Employment Report.
Wed, Oct 6 2010, 5:58 PM
Fed Policy: CLEARLY ON EVERYONE'S MIND. Including mortgage rate watchers....
Tue, Oct 5 2010, 10:25 AM
Rate sheet influential MBS coupons have been generally stable since ISM flashed. Yield spreads are however wider as origination supply has picked up ...
Tue, Oct 5 2010, 8:27 AM
After briefly breaking range support in a thinly traded marketplace yesterday, equity futures are recovering this morning as investors await a key ISM...
Mon, Oct 4 2010, 11:55 AM
MBS prices are moving higher as stocks tick deeper into the red. If your lender was a little lite on the rebate this AM...you might see reprices for t...
Mon, Oct 4 2010, 8:50 AM
The dominant headline this week will be Friday’s jobs report for September, which is expected to show growth in the private sector was offset by gover...
Mon, Oct 4 2010, 6:18 PM
While there's still room for prices to run higher (7/32), if you're into playing pivot points,MBS prices are due a reversal. Back month FNCL 4.0s have...
Fri, Oct 1 2010, 10:36 AM
Bill Dudley's dovish comments are still the primary focus of the bond market, but 10am helped move the needle in an originator friendly direction.
Fri, Oct 1 2010, 8:31 AM
Personal Income and Spending data has been released. Spending rose 0.4%. Income improved 0.5%. Both metrics were slightly better than expected but wel...
Fri, Oct 1 2010, 8:19 AM
The day ahead is filled with data and fedspeak and both stocks and bonds are ready to react to whatever crosses wires. Ninety minutes before the bell ...
Fri, Oct 1 2010, 4:50 PM
The main driver behind the bond market at the moment is the potential for further Federal Reserve quantitative easing. This means economic data will p...
Thu, Sep 30 2010, 12:08 PM
Stop the presses! After touching 4.5 month highs following the release of Chicago PMI data at 9:45, profit taking has led stocks back into the red. S...
Thu, Sep 30 2010, 9:46 AM
Chicago PMI printed at 9:45. It was much much better than expected, led by gains in the new orders index. The prices paid index on the other hand fell...
Thu, Sep 30 2010, 8:34 AM
830AM data has been released. Both Jobless Claims and final Q2 GDP beat consensus estimates (barely). Stock futures better, benchmark bond yields up, ...
Thu, Sep 30 2010, 8:23 AM
On this final day of September and final day of the 3rd quarter, after a busy overnight session in which Ireland’s finance minister declared his count...
MBS Market Alerts
