YO-YO Market

Mortgage bond prices closed slightly below the levels where daily pricing was set applying upward pressure to mortgage rates. Trade was volatile all day tied to the movement in stocks. Equity and bond prices were yo-yoing with each snippet of news out of Europe.  Tomorrow brings weekly jobless claims and Q3 advanced GDP before lendersContinue reading “YO-YO Market”

GADHAFI DEAD?

The head of the National Transitional Council military arm announced on Al Jazeera Arabic that Gadhafi is dead. The report hasn’t been confirmed. Mortgage bonds are weaker at the open pushing rates higher as news out of Europe indicates the euro zone’s bailout facility will be able to buy EU bonds on the secondary market.Continue reading “GADHAFI DEAD?”

Mortgage bond prices stabilize and trade sideways

Mortgage bond prices stabilize and trade sideways but with debt resolution still up the air, the volatility will remain and prices will trade sideways. MARKET WRAP: Bond markets stabilized today and pushed higher despite better than expected news from initial claims, pending home sales and not-so-good results from the $29B 7-yr note auction. Whispers ofContinue reading “Mortgage bond prices stabilize and trade sideways”

Weak Existing Home Sales and AT&T Buys T-Mobile

MARKET WRAP: The announcement from the Treasury that it will begin selling $10B in Mortgage Backed Securities each month starting this month sent MBS prices lower today. The total amount the Treasury owns is $142B. The news sent MBS and Treasuries considerably lower but they did manage to pare some of those losses by theContinue reading “Weak Existing Home Sales and AT&T Buys T-Mobile”

Japan and the Mid East Impact Bonds.

Mortgage Bonds moved higher today on the devastating news out of Japan and as the unrest in the Mid East continues but they closed well off the best levels of the session halted by resistance and as Stocks were able to pair 2/3s of the days losses. The 4% coupon finished at 98.66 up 22bp.Continue reading “Japan and the Mid East Impact Bonds.”

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