May 16, 2021

MP Now News

Mortgage News

Super Sideways Ahead of Retail Sales

Fed Minutes Today at 2 p.m. EST

Follow the markets live as the Fed Minutes release today at 2 p.m. EST.

It’s Fed Day. Are you ready?

If you followed the MBS comment, you know what This afternoon could be a big deal. Markets were prepare for it for weeks and MBS Live members have followed these movements every step of the way.

This afternoon, when markets are shaken just 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 streams and alerts is unmatched.

MBS RECAP: Super sideways ahead of retail sales

The retail sale used to be a big ticket report, but like so many others, it’s well below the post-Covid level. That will change at some point. We could already see vague indications of this change tomorrow. In any case, those mere clues would be more exciting than anything that happened today.

Econ data / events

  • Fed MBS purchase 10 a.m., 11:30 a.m., 1 p.m.

  • Import prices 1.2 vs 1.0 f’cast
    Export prices 2.1 vs 1.0 f’cast

Market Movement Review

8:31 am

Quiet, calm session overnight. Minimal movement in Treasuries. Modest weakness. 10 years results in 1.2 bps at 1.632 and UMBS are completely unchanged.

12:13 p.m.

Modest additional weakness for government bonds, mainly dragged into returns by stronger weakness in European bonds. Technical data and corporate emissions are also factors. 10 years to 2.3 bps at 1.643. MBS outperformed and held nearly unchanged levels.

2:44 pm

Still on the water towards 3pm CME close. The returns for 10 years are no higher than before noon. MBS are flirting with lows but are only down 1 tick on the current day (-0.03).

About the author

Operations manager,
Mortgage News Daily / MBS Live

Matthew, a former creator, started writing for Mortgage News Daily in 2007, covering a wide range of topics. When he saw a need in the marketplace, his focus increasingly shifted to the relationship between MBS and broader financial markets for lenders. …

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