What’s up in Mortgage Today – 3.23.23
UMBS are up 8 bps and S&P up 37 points. Bonds began the overnight session drifting very gently stronger but began losing ground during European trading hours. Several central banks hiked rates as [...]
What’s up in Mortgage Today – 3.22.23
MBS off 20 bps early.....again. It was a boring trading session in both Asia and Europe. The latter say a bit of an additional "risk-on" move with EU stocks and bond yields moving [...]
What’s up in Mortgage Today – 3.8.23
MBS -.27 on the open. 10y is up 10 bps. Bonds were moderately to sharply weaker in the overnight session, led by a risk-on trade in Europe. The absence of new drama in [...]
What’s up in Mortgage Today – 3.20.23
MBS down 9 bps to start the week. Treasuries hit their lowest yields since September right at the start of the European trading session as the UBS takeover of Credit Suisse was initially [...]
What’s up in Mortgage Today – 3.13.23
MBS are up 81 bps this morning. Though it's been bouncy around this range. After 2 days of early wins, I'm wondering if the Angry God that Hates Mortgage People went on vacation. [...]
What’s up in Mortgage Today – 3.10.23
Market wants to give us hope today. Up 52 bps early. Nonfarm Payrolls = 311 vs 225 f'cast, [504 prev] Wages = 0.2 vs 0.3 f'cast, [0.3 prev] up 4.6% YoY Unemployment Rate [...]
What’s up in Mortgage Today – 3.9.23
Thursday - March 9, 2023 MBS are up .14 on the morning. Bonds were sideways to slightly weaker overnight with markets locked in a classic Fed accommodation trade (stock prices and bond yields [...]
What’s up in Mortgage Today – 3.8.23
MBS are up 19. Winning back some of the Powell ground lost yesterday. Although the ADP data came out at 8:15am and bonds improved shortly thereafter, it was actually the simple tolling of [...]