ARCHIVED BLOG POSTS
2008
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MBS prices are down -8/32 (FNMA 30yr 6.0 at 100.91), below the initial price level at -6/32. MBS markets began the day with small gains, and then dropped to an early low of -9/32. After that, MBS prices remained in a range. The July PCE price index showed that both overall and core inflation incr...
08/29/2008
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MBS prices are up +4/32 (FNMA 30yr 6.0 at 101.12), above the morning price level at -2/32, and at the high for the day. It was quiet for most of the session, until MBS markets drifted higher late in the day on light volume. Today's second quarter GDP revisions showed stronger than expected growth...
08/28/2008
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MBS prices are up +4/32 (FNMA 30yr 6.0 at 100.81), above the initial price level at unchanged. After holding near unchanged levels for most of the day, MBS markets drifted higher late in the session. Today's economic data had little impact. July New Home Sales came in at 515K annual units, sligh...
08/26/2008
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MBS prices are up +11/32 (FNMA 30yr 6.0 at 100.69), above the initial price level at +6/32, and at the high for the day. Investors moved funds out of the stock market and into MBS markets. The Dow fell almost 250 points. July Existing Home Sales rose 3% to 5.0 million annual units, a little highe...
08/25/2008
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MBS prices are down -3/32 (FNMA 30yr 6.0 at 100.31), above the initial price level at -5/32. Unfavorable repricing took place from early investors. It was a volatile morning and then a quiet afternoon. No economic data came out today. Fed Chief Bernanke gave a speech, but there were few surprises...
08/22/2008
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MBS prices are down -11/32 (FNMA 30yr 6.0 at 100.41), below the initial price level at -9/32. Unfavorable repricing took place from early investors. It was a volatile session.. MBS markets began with moderate gains, but fell sharply to a low of -11/32 when the early rally lost steam. MBS markets ...
08/21/2008
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MBS prices are up +18/32 (FNMA 30yr 6.0 at 100.75), far above the initial price level at +2/32. Favorable repricing took place. No economic data came out today. MBS markets outperformed Treasury markets by a wide margin. The stock prices of Fannie Mae and Freddie Mac again sustained large losses,...
08/20/2008
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MBS prices are up +1/32 (FNMA 30yr 6.0 at 100.22), at the initial price level at +1/32. Today's PPI inflation data far exceeded the consensus, but expectations for lower future readings minimized the reaction. Housing Starts and Building Permits declined to the lowest levels of the decade. Today'...
08/19/2008
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MBS prices are down -1/32 (FNMA 30yr 6.0 at 100.19), flat to the initial morning price level. No economic data came out today. The primary news was a decline in the share prices of Fannie Mae and Freddie Mac over renewed fears that they will need a government bailout. Ginnie Mae and Treasury secu...
08/18/2008
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MBS prices are up +9/32 (FNMA 30yr 6.0 at 100.22), above the initial price level at +4/32. Today's economic data had little impact. Industrial Production and the Empire State index came in stronger than expected, while Consumer Sentiment fell slightly short. MBS markets held in a range for most o...
08/15/2008
