Today offers firm confirmation of the range breakout we’d been hoping to see this week. These sorts of breakouts are positive signals in the bigger picture, but risk-averse rate watchers can use them as early warning signs for short-term shifts. Today’s video discusses this in greater detail.
Market Movement Recap
08:16 AM
Bonds were modestly weaker overnight, but domestic buyers got an early start around 6:30am. With another slight boost from weak ADP data, Treasuries just turned positive and MBS are effectively unchanged.
11:03 AM
Gains extending a bit now, with more friendly Fed-speak, this time from Williams. 10yr yields down 1.6bps on the day to .66% and 2.0 UMBS up 2 ticks (0.06) at 103-11 (103.34).
01:28 PM
Comments from Fed speakers have generally been supportive. Bonds hit their best levels just before noon and have pulled back a bit since then. The bounce coincides with stock market strength. 10yr yields still down 2.3bps on the day at .649. UMBS 2.0 still up 2 ticks (0.06) at 103-11 (103.34).
MBS Pricing Snapshot
Pricing shown below is delayed, please note the timestamp at the bottom. Real time pricing is available via MBS Live.
| MBS |
UMBS 2.0 103-11 : +0-01 |
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| Treasuries |
10 YR 0.6542 : -0.0168 |
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| Pricing as of 9/2/20 3:38PMEST | |||
Today’s Reprice Alerts and Updates
8:31AM : Bonds Briefly Turn Positive After ADP Data
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By Matthew Graham , dated 2020-09-02 15:40:29
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Courtesy of Mortgage News Daily