Mortgage Today 12/11: What the Fed’s Rate-Cut Signals Mean for the Market
MBS are down 13 bps on the open. 6.5 is down 19. Global equities posted modest moves at the start of a busy week of economic data and central bank meetings that will [...]
Mortgage Today 12/7/23: Examining Market Reactions to Job Market Data and Inflation Trends
In today's financial update, UMBS 6.0 saw a 9 basis point decline in the morning, with the 5.5 and 5.0 performing better, raising hopes for them to return to profitability. The weakening of [...]
Mortgage Today 12/5/23: Job Openings Plummet, Fed’s Stance on Rates, and Market Impact
Popular UMBS coupons were flat on the morning. Lower coupon 5.5 is up a quarter point on the morning. Though still below 100. US equity contracts slid as traders pushed back on optimistic [...]
Mortgage Today 12/4: NFP Expectations, Bond Market Pause, and Powell’s Hawkish Stance
UMBS were down 20 bps to start the day. S&P futures down 15 pts Stocks and bonds retreated as traders pause after November’s blockbuster rally and debate the case for interest rate cuts. [...]
Mortgage Today 11/27: Navigating the Dip in New Home Sales and the Rally in Bond Markets
UMBS starting the day up 6 bps. US stock futures pointed to a muted Wall Street open as data showed a sharp slowdown in China’s industrial profits, reinforcing investor concerns about its sluggish [...]
Mortgage Today 11/16: UMBS Gains as Bonds Rally, Wal-Mart Warns on Spending, and Homebuilder Sentiment Dips
UMBS are up 14 bps on the day. Not huge, but at least it's green. Bonds were already slightly stronger in the overnight session with most of the gains arriving with Tokyo's opening [...]
“Mortgage Today 11/15: UMBS Slides Amid Static PPI and Mixed Retail Sales, Market Eyes Cooling Period
UMBS 6.5 are down 41 bps on the morning. Giving back about 1/2 of yesterday's gain in like an hour. Stocks were doing well though. Core m/m PPI = 0.0 vs 0.3 f'cast [...]
Mortgage Today11/14/23: UMBS Surges and CPI Shocks Markets, Small Business Sentiment Wavers
What a great thing to wake up to! UMBS are up 64 bps! S&P futures were up 51.5 as well. It is an extreme testament to the gravity of this particular CPI report [...]