Wed, Nov 4 2015, 8:11 AM
It's a special time for bond markets where the interest of bulls and bears are relatively aligned . Unfortunately for those of us watching from the ...
Wed, Nov 4 2015, 5:24 PM
Bonds began the day in fine shape, but not without a good amount of assumed anxiety ahead of data and Yellen. Still, Treasuries did reasonably well...
Wed, Nov 4 2015, 1:33 PM
This morning's economic data had moderate impact on bond market trading levels. The two key releases were ADP Employment and ISM Non-Manufacturing....
Tue, Nov 3 2015, 8:18 AM
10yr yields hit the highest levels since September 25th yesterday, but that's about the most interesting thing that could be said about the trading ...
Tue, Nov 3 2015, 5:42 PM
Ongoing, firm, measured selling efforts are exactly what we would expect from a market that was caught somewhat off-guard by last week's FOMC Announce...
Tue, Nov 3 2015, 1:12 PM
Bonds remain under an amount of pressure that is something less than extreme and something much greater than insignificant. MBS continue to outperfor...
Mon, Nov 2 2015, 12:54 PM
Last Friday, bond markets made a small push back against the substantial selling spree on Wednesday and Thursday. Unfortunately, it always stood some...
Mon, Nov 2 2015, 8:26 AM
To reiterate the most important takeaway from last week, the verbiage change in the FOMC Announcement was a big deal . When viewed in conjunction wi...
Mon, Nov 2 2015, 5:40 PM
Bond markets began the day under pressure from decent economic data in Europe and the continuation of generally negative momentum coming off last week...
Fri, Oct 30 2015, 7:32 AM
One of my favorite little snippets of analytical wisdom (or perhaps it's an out that I leave myself in case I'm wrong... yes, that's probably it) is s...
Fri, Oct 30 2015, 5:03 PM
Bond markets continued to trade resiliently through the close today with the help of month-end buying demand. A small-scale battle played out earli...
Fri, Oct 30 2015, 1:12 PM
I was going to title this mid-day post something like "uneventfully holding most of yesterday's losses," but I almost fell asleep just writing it. Th...
Thu, Oct 29 2015, 12:59 PM
Yesterday was obviously bad for bond markets. The shift in tone from the Fed caught many market participants off guard. Since the announcement, Fed ...
Thu, Oct 29 2015, 7:32 AM
MBS Live cornerstone Andy Pada reminded me yesterday that I was pretty sure the Fed was going to hike in September. Indeed, I was relatively passiona...
Thu, Oct 29 2015, 5:30 PM
10yr yields have gone from around 2 percent to 2.17% in 2 days thanks to the Fed's sucker punch. Mind you, this would be a lot worse if some of the m...
Wed, Oct 28 2015, 7:32 AM
Today's 'Day Ahead' title is both a rhetorical and literal question. On a literal level, we'll know soon enough, as 2pm brings the latest official po...
Wed, Oct 28 2015, 5:44 PM
Bond markets began the day like most recent days: flat and uninspired. That wasn't too hard to forgive considering we may well expect some indecision...
Wed, Oct 28 2015, 2:05 PM
(additions underlined, deletions struck-through)
For immediate release Information received since the Federal Open Market Committee met in July...
Wed, Oct 28 2015, 1:24 PM
Bond markets are slightly weaker so far today, but still very much within the recent range ahead of the 2pm Fed Announcement. Unlike many recent exam...
Tue, Oct 27 2015, 8:30 AM
It's rare for the near-term outlook in financial markets to operate in the realm of super high probability. With so much money at stake and with trad...
Tue, Oct 27 2015, 6:31 PM
If we needed any more evidence that the earlier price action had much to do with the spillover from European bond markets, the afternoon trade made it...
Tue, Oct 27 2015, 2:20 PM
There continues to be nothing too much to write home about when it comes to post-NFP October in bond markets. There has been a range of 2.0-2.08 th...
Mon, Oct 26 2015, 9:12 AM
The week's key event is undoubtedly Wednesday's FOMC Announcement, but should markets be getting worked up over the possibility of a change? Of cours...
Mon, Oct 26 2015, 5:35 PM
Bond markets got nostalgic for summertime Mondays today. Despite it being the beginning of a Fed week and falling hard on the heels of a sharper move...
Mon, Oct 26 2015, 2:24 PM
It has been a remarkably quiet day so far during the domestic session. This seems more like the rule than the exception of late. The only instance o...
Fri, Oct 23 2015, 7:33 AM
If you follow bond markets closely enough, you may have noticed a certain measure of reluctance on the part of 10yr yields to break below the 2% barri...
Fri, Oct 23 2015, 5:42 PM
If you caught the Mid-Day , you're up to speed on anything interesting that happened today.
If you didn't, the only interesting thing that happen...
Fri, Oct 23 2015, 1:47 PM
Bond markets are in weaker territory today, more than erasing all of yesterday's gains and taking 10yr yields to the highest levels in 2 weeks. The ...
Thu, Oct 22 2015, 12:22 PM
As expected, this morning's European Central Bank (ECB) Announcement has been a source of volatility for markets, but its effects have varied widely...
Thu, Oct 22 2015, 7:33 AM
Over the past two days, we saw a surprisingly strong move higher in European bond yields that spilled over to US bond markets. The effects were mute...
Thu, Oct 22 2015, 5:07 PM
Stocks and bonds continued on their divergent paths today thanks to the European Central Bank. While there had been some speculation that the ECB w...
Wed, Oct 21 2015, 8:48 AM
As you've likely picked up on, this week has served primarily as a chance for markets to do whatever they need to do ahead of next week's FOMC announc...
Wed, Oct 21 2015, 4:30 PM
Nothing has changed from the mid-day update, so today's recap will largely be an amplification of those themes.
Bond markets were stronger overni...
Wed, Oct 21 2015, 1:39 PM
Yesterday marked the first legitimate swoon in US bond markets in more than a week. The 3 days prior were especially flat, with 10yr yields ending th...
Tue, Oct 20 2015, 12:56 PM
Bond markets lost ground overnight, moving resolutely higher in yield during the European session. The Treasury weakness is notable in that it occu...
Tue, Oct 20 2015, 7:33 AM
This probably won't be the last time I mention it before next Wednesday, but next Wednesday is the FOMC Announcement. That's the one where Yellen sai...
Tue, Oct 20 2015, 5:36 PM
"Move along... Nothing to see here..." Despite the 4.6 bp increase in 10yr yields and the quarter point drop in MBS Prices, today was actually rathe...
Mon, Oct 19 2015, 7:33 AM
I remember when I used to think that certain super smart, well-connected, high-powered traders actually knew where rates would be heading with better ...
Mon, Oct 19 2015, 5:00 PM
Time for another installment of "the headline is the recap." Bond markets sold-off a bit at noon and came back to end just barely inside positive ter...
Mon, Oct 19 2015, 2:15 PM
Bond markets were weaker during the overnight session--at least at first. The easiest scapegoat for that weakness was the less-than-awful GDP print ...
Fri, Oct 16 2015, 7:51 AM
The October Fed meeting is still more than a week away, but it already looks like bond markets are preparing for it. Preparation for big events often...
Fri, Oct 16 2015, 7:20 PM
Stocks put in another day of gains today. This is important for 2 reasons. First, they--and by "they," I mean the S&P and S&P futures, which is the ...
Fri, Oct 16 2015, 2:27 PM
Friday's trading has been slightly less exciting and has cut a much narrower range than Thursday's trading. Markets might as well not even be open ....
Thu, Oct 15 2015, 7:54 PM
MBS and Treasury yields moved into weaker territory after the 8:30am release of CPI and Jobless Claims this morning. One can only surmise that invest...
Thu, Oct 15 2015, 7:33 AM
Nothing like a good tragedy for lighthearted mid-week viewing as far as bond markets are concerned. Various global economies' data is growing ever we...
Thu, Oct 15 2015, 1:34 PM
The overnight session began with markets showing their collective hand as stock prices and bond yields moved higher together. It's as if the memo wen...
Wed, Oct 14 2015, 8:46 AM
Bond markets love negative economic data--especially when the Fed is ostensibly waiting for domestic economic data to merely hold steady in order to j...
Wed, Oct 14 2015, 7:13 PM
One year ago today, things "got real" for bond markets as they leaped into significantly stronger territory, ultimately ending the day at the best clo...
Wed, Oct 14 2015, 2:34 PM
Even a slew of corporate bond issuance isn't holding back bond markets from another strong move lower in yield today. In fact, in a break from the ...
Tue, Oct 13 2015, 9:15 AM
The surprisingly weak NFP at the beginning of October helped bond markets extend an already strong rally. The strength of the post-NFP rally was a su...
MBS Market Alerts
