MBS Live Recap: Bonds Calmly Trading Near Best Levels – Mortgage News Daily

This post was originally published on this site

The bond market is exuding a sort of confidence we’ve not seen in a long time.  I’m not saying that because outright rate levels are lower than they’ve been in more than a year.  Rather, I’m saying it because bonds have been content to hold inside a very narrow range near those lows.  

As 2019 has progressed, we’ve seen less and less evidence of yields being “spooked” either by unfriendly news or simply by the need to undergo a correction after hitting a new low.  It would seem traders have taken the ECB, EU, Fed, etc. at their words with respect to a global growth slowdown and placing the burden of proof on stronger economic data or friendly fiscal developments.

If the data doesn’t impress and if fiscal missteps can’t be avoided, it’s not clear what would prevent rates from continuing lower, or at least continuing to avoid moving higher in too threatening a way.

As for today specifically, there really wasn’t much to write home about.  Treasuries picked up some ground with Europe early in the day and then went sideways despite a bounce back in the stock market.  MBS didn’t fare quite as well by comparison, but nonetheless picked up an eighth of a point.

MBS Pricing Snapshot

Pricing shown below is delayed, please note the timestamp at the bottom. Real time pricing is available via MBS Live.


FNMA 4.0

102-10 : +0-04


10 YR

2.6340 : -0.0200

Pricing as of 2/8/19 6:04PMEST

Today’s Reprice Alerts and Updates

11:13AM  :  Bonds Pushing Positive Boundaries With More Help From Europe

MBS Live Chat Highlights

Matthew Graham  :  “I ran out of checks to pay for compliments this morning, BH, but I will add you to the list!”

Bill Hills  :  “this week’s NL will certainly grab “additional” attention, relative to all of his other kick-ass weekly newsletters. MG’s newsletters are the best marketing pieces out there. Hands down.”

Ted Rood  :  “”This week”?”

Bill Hills  :  “GREAT NEWSLETTER THIS WEEK, MG! My phone will be ringing. Thanks!”

This post was originally published on *this site*