Wed, Mar 31 2010, 1:38 PM
Mortgage market participants must now face the reality of a life without the supportive, flow balancing, volatility calming bid of the Federal Reserve...
Tue, Mar 30 2010, 10:36 AM
With Consumer Confidence out, the bleeding in bonds seems to have stopped for the moment. A bit of a paradox at first glance since the data beat expe...
Tue, Mar 30 2010, 9:33 AM
Using your microscope, you might be able to see the hint of a top forming on the treasury yield chart. hopefully, that materializes, which would help...
Tue, Mar 30 2010, 6:36 PM
Major lock decisions deal more with Friday than anything. From there, anything you know you're going to lock before NFP, the closer MBS are to 100-16...
Tue, Mar 30 2010, 3:03 PM
Mon, Mar 29 2010, 12:28 PM
Plain and Simple: the long end of the yield curve is the biggest loser today. This is most likely a function of low trading volume and a thinly att...
Mon, Mar 29 2010, 10:07 AM
10s must break 3.85% and re-enter the 3.57 to 3.85% range for us to see further positive rebound rally progress. Still watching and waiting...
Mon, Mar 29 2010, 6:49 PM
Mon, Mar 29 2010, 3:37 PM
We're hearing quite a few questions about census jobs distorting Friday's NFP number. Here's the thing though... If we already know that temporary c...
Fri, Mar 26 2010, 12:40 PM
I have nothing but good news for mortgages. "Rate sheet influential" MBS prices are higher, current coupon yield spreads are tighter, and REPRICES FOR...
Fri, Mar 26 2010, 9:56 AM
It was encouraging to see overnight bargain buying again, especially after three terrible turnouts from indirect bidders at this week's round of Treas...
Fri, Mar 26 2010, 4:32 PM
Bonds are still more likely to move over 3.85 in the longer term, but there is enough room for the possibility that we could catch a break in the shor...
Fri, Mar 26 2010, 2:19 PM
Strength in treasuries and consequently MBS today has led to widespread reprices for the better. But if we get a 3pm mark around 3.85, it could lead ...
Thu, Mar 25 2010, 12:31 PM
he bond market is losing steam ahead of the 1pm bid cut off for $32 billion 7 year notes. The 10 year Treasury note is trading at 3.89%. This pushed t...
Thu, Mar 25 2010, 10:19 AM
Yesterday was brutal. The long end of the rates market got caught with its pants down. Short swap positions in the long end of the curve capitulated,...
Thu, Mar 25 2010, 7:09 PM
If we forget that MBS lost about a point yesterday and that treasuries rose more than 10bps in yield, today is mild by comparison. MBS were unchanged...
Thu, Mar 25 2010, 2:47 PM
It's been one heck of a roller coaster watching the various levels of 10yr yields on a tick by tick view. Things looked quite bad for a time when the...
Thu, Mar 25 2010, 1:23 PM
The auction did not go well. Not a huge surprise given the events that unfolded yesterday. Rates are higher after the auction. Between then and now, n...
Wed, Mar 24 2010, 12:39 PM
Ahead of the 5 year note auction...the 2 year and 5 year TSY note yield are both trading at two month highs.The 10 year TSY note is at a one month yie...
Wed, Mar 24 2010, 11:12 AM
Reuters polled primary dealers on their outlook for interest rates over the next three, six, and twelve months. 6 of 30 dealers think the 10 year note...
Wed, Mar 24 2010, 10:50 AM
After two days of a boring, low volume driven sideways tight range trading, rates volume has skyrocketed into this sell off with the majority of sell ...
Wed, Mar 24 2010, 8:54 AM
Wed, Mar 24 2010, 4:22 PM
Wed, Mar 24 2010, 2:43 PM
MBS have trounced treasuries all day, and especially into the sell-off. That "ledge-ish" sort of section around 100-18 corresponds with a major pivot...
Wed, Mar 24 2010, 1:14 PM
REPRICES FOR THE WORSE ARE IMMINENT after a weak 5 year Treasury note auction.
Tue, Mar 23 2010, 12:59 PM
Tue, Mar 23 2010, 8:38 AM
No need to go too deep into this outlook. Markets have been "coiling" energy, waiting for an influential event that provided direction and justified b...
Tue, Mar 23 2010, 7:25 PM
The moral of today's story is that MBS were wanting to stay under 101-02 yesterday and over it today. Whether prices open higher or lower tomorrow, w...
Tue, Mar 23 2010, 4:21 PM
FN 4.5's currently unchanged on the day at 101-02. (4 ticks off highs). Treasuries much worse off with 10yr down 7 ticks, pushing yield up to 3.69. C...
Tue, Mar 23 2010, 2:33 PM
Mon, Mar 22 2010, 12:00 PM
Coiling represents "waiting for guidance" in the marketplace. This fits in well with the financial atmosphere today. There is a lack of meaningful dat...
Mon, Mar 22 2010, 8:59 AM
The econ calendar is essentially empty today, this allows bond traders to price in auction supply concessions to the yield curve whenever the stock le...
Mon, Mar 22 2010, 6:02 PM
My goal is to convey just how boring today was. The term "range-bound and waiting for guidance" doesn't even begin to describe it. "Low volatility a...
Mon, Mar 22 2010, 3:26 PM
Current trading may follow a certain general framework, but it's all akin to a pre-game warm up as the real action won't begin until 1pm tomorrow--whe...
Fri, Mar 19 2010, 11:48 AM
Rates are staging a lackluster comeback as commodities stocks battle a strong dollar. Adding some weakness is a continued lack of liquidity in the mar...
Fri, Mar 19 2010, 8:33 AM
Both benchmark 10s and rate sheet influential MBS coupons are opening the day weaker...in a very slow trading environment. 10s moved sideways overnigh...
Fri, Mar 19 2010, 4:18 PM
Fri, Mar 19 2010, 3:01 PM
Fri, Mar 19 2010, 1:37 PM
Thu, Mar 18 2010, 12:43 PM
Thu, Mar 18 2010, 11:00 AM
If you have been floating in hopes of an extended rates rally, now might be the time to ensure your loans are registered and ready to lock.
Thu, Mar 18 2010, 8:42 AM
Inflation data was dovish, supportive of exceptionally low Federal Reserve interest rate policy for an "extended period". Jobless claims were worse t...
Thu, Mar 18 2010, 5:09 PM
Thu, Mar 18 2010, 3:27 PM
Wed, Mar 17 2010, 12:48 PM
THE PHRASE PLAY THE RANGE UNTIL THE RANGE PLAYS YOU RESONATES LOUDLY IN MY HEAD AT THE MOMENT. 10 yr yields have fallen fast, all the way back to the ...
Wed, Mar 17 2010, 9:02 AM
Across all stages of production, falling energy prices in February accounted for the majority of deflation with gasoline being the biggest drag. The ...
Wed, Mar 17 2010, 5:37 PM
Wed, Mar 17 2010, 3:51 PM
Tue, Mar 16 2010, 11:16 AM
Tue, Mar 16 2010, 8:48 AM
MBS Market Alerts
