After last week’s somewhat scary move higher in rates, the bond market has shown a decent amount of resilience so far this week as the jury remains out in the case of covid vs the economy.
Econ Data / Events
11:30-11:50 AM (ET) – Fed 30yr UMBS Buying
Consumer Price Index 0.6 vs 0.5 f’cast, -0.1 prev
Core Annual CPI 1.2 vs 1.1 f’cast, 1.2 prev
Market Movement Recap
Stocks and bonds both mostly flat overnight, like yesterday. Slight edge toward “risk-on” with stocks just barely stronger and bonds just barely weaker. 2.0 UMBS starting the day down a hair at 102-22 (102.69).
MBS have bounced back nicely after opening slightly weaker. Both Treasuries and MBS improved at 8:30, but MBS have kept the good times rolling, now up nearly a quarter of a point.
MBS prices have come off the boil from mid-day highs. 2.0 coupons are down nearly an eighth from those highs at 102-29 (102.91). They were briefly as high as 103. 10yr yields are holding sideways in slightly stronger territory despite stocks up more than half a percent.
MBS Pricing Snapshot
Pricing shown below is delayed, please note the timestamp at the bottom. Real time pricing is available via MBS Live.
102-26 : +0-04
0.6200 : -0.0200
|Pricing as of 7/14/20 3:34PMEST|
Today’s Reprice Alerts and Updates
3:31PM : ALERT ISSUED: Some Lenders Could Consider Reprices
11:44AM : Positive Reprice Potential Increasing as MBS Outperform
9:07AM : Slight Weakness Becomes Modest Strength After CPI