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Saturday’s: 9AM 1590 AM/97.9 FM KVTA
Sunday’s: 7AM K-EARTH 101 FM
MBS OVERVIEW 4:00 EST – Our benchmark FNMA MBS 6.00 March Coupon is up +2 BPS with 60 minutes left to trade. There were no economic events today On Deck for Tomorrow: Consumer Price Index 10 year and MBSs today little changed awaiting tomorrow’s January consumer price index (CPI). Stock indexes had a decent day. There wasn’t any
READ MOREMBS OVERVIEW 4:00 EST – Our benchmark FNMA MBS 6.00 March Coupon is down -36 BPS with 60 minutes left to trade. Consumer Sentiment: The Preliminary February UofM Consumer Sentiment Index was low but it was higher than expected (66.4 vs. est. 65.0). The one year inflation expectations rose from 3.9% to 4.2% The Talking Fed: Philadelphia Fed
READ MOREMBS OVERVIEW 4:00 EST – Our benchmark FNMA MBS 6.00 February Coupon is down -32 BPS with 60 minutes left to trade. Jobs, Jobs, Jobs: Initial Weekly Jobless Claims once again were below 200K, this time 196K vs. est. of 190K. The more closely watched 4 week moving average dropped down below 190K to 189,250. Continuing Claims
READ MOREMBS OVERVIEW 4:00 EST – Our benchmark FNMA MBS 6.00 February Coupon is up +9 BPS with 60 minutes left to trade. Taking it to the House: Weekly Mortgage Applications increased by 7.4% after falling -9.0% the prior week. Purchase Applications were up 3.1% and Refinance Applications jumped 17.7% The Talking Fed: Fed Governor Christopher Waller warns that interest
READ MOREMBS OVERVIEW 4:00 EST – Our benchmark FNMA MBS 6.00 February Coupon is up +16 BPS with 60 minutes left to trade. Trade Balance: This data directly goes into the GDP calculations. The December Goods and Services Trade inBalance was a deficit of $-67.4B which was very close to the consensus estimates of $-68.5B Consumer
READ MOREMBS OVERVIEW Three Things: These are the three areas that have the greatest ability to impact your backend pricing this week. 1) The Talking Fed, 2) Treasury Dump, and 3) Central Bank Palooza 1) The Talking Fed: After last week’s shift from unconditionally-hawkish to conditionally-hawkish, the markets have hedged (bet) that they FOMC would need
READ MOREMBS OVERVIEW 4:00 EST – Our benchmark FNMA MBS 6.00 February Coupon is down -16 BPS with 60 minutes left to trade. Jobs, Jobs, Jobs: Its Big Jobs Friday, and we certainly got much stronger than expected “data” from the BLS.You can read their official release here. Here is the Tale of the Tape: Jobs:
READ MOREU.S. hiring roared back to life in January as the labor market remained surprisingly resilient in the face of higher interest rates, scorching-hot inflation and mounting recession fears. Employers added 517,000 jobs in January, the Labor Department said in its monthly payroll report released Friday, easily topping the 185,000 jobs forecast by Refinitiv economists. It
READ MOREThe Federal Reserve on Wednesday raised its benchmark interest rate by a quarter of a point, further slowing its aggressive campaign to cool the economy amid growing evidence that stubbornly high inflation is finally starting to ease. The widely expected move puts the key benchmark federal funds rate at a range of 4.5% to 4.75%,
READ MOREMBS OVERVIEW 4:00 EST – Our benchmark FNMA MBS 6.00 February Coupon is up +37 BPS with 60 minutes left to trade. Jobs, Jobs, Jobs: The January ADP Employment Report showed 106K job adds which was well below the consensus estimates of 178K and a steep decline from December’s upwardly revised 253K. The December Job
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