Fed Minutes Today at 2pm EST

Follow the markets live as the Fed Minutes are released at 2pm EST today.

It’s Fed Day. Are you ready?

If you’ve been following the MBS Commentary, you know what a big deal this afternoon could be. Markets have been preparing for it for weeks and MBS Live members have been on top of those movements every step of the way.

This afternoon, when markets are convulsing mere milliseconds after the Fed Announcement, MBS Live members will know what’s going on before anyone else. The accuracy and speed of our real-time price stream and alerts is unmatched.

MBS RECAP: Abandon Hope, All Ye Who Float Overnight

We’re putting in for permits to build our own Pirates of the Caribbean ride at MBS Live world headquarters.  There will be more waterfalls, and they’ll be sharper.  We’re mapping the slope based on bond prices, after all.  We’ll even keep with some familiar elements such as the “abandon hope” sign.  That was certainly the bond market’s message to floaters today.  See the Day Ahead commentary for more thoughts on the move and the Lock/Float section for specific thoughts on strategy.  

Econ Data / Events

  • Fed MBS Buying 10am, 1130am, 1pm

  • Philly Fed 51.8 vs 23.0, 23.1 Prev

  • Jobless Claims 770k vs 700k f’cast, 725k prev

Market Movement Recap

08:36 AM

Bonds crushed overnight in massive volume.  10yr yields up to 1.754 at highs, 1.74% currently.  MBS off 3/8ths of a point. 

01:26 PM

VERY calm and sideways after  the opening weakness.  Nothing to report other than modestly refreshing ground-holding.

04:04 PM

Today is setting some sort of record for the most striking juxtaposition of overnight weakness with domestic-session stability. Treasuries tried to rally a bit as stocks slumped into the NYSE close, but that didn’t last long.  Yields are 7+bps higher at 1.72%.  MBS are unchanged from the last update, holding just about half a point weaker on the day.

About the Author

Chief Operating Officer,
Mortgage News Daily / MBS Live

A former originator, Matthew began writing for Mortgage News Daily in 2007, covering a wide range of topics. Seeing a need in the marketplace, his focus increasingly shifted toward relating MBS and broader financial markets for loan originators.


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By Matthew Graham , dated 2021-03-18 16:09:07

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Courtesy of Mortgage News Daily

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