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Saturday’s: 9AM 1590 AM/97.9 FM KVTA
Sunday’s: 7AM K-EARTH 101 FM
Inflation remained uncomfortably high in February, although it has cooled slightly from a peak notched in 2022. The Labor Department said Tuesday that the consumer price index, a broad measure of the price for everyday goods including gasoline, groceries and rents, rose 0.4% in February from the previous month. Prices climbed 6% on an annual
READ MOREMBS OVERVIEW 4:00 EST – Our benchmark FNMA MBS 6.00 April Coupon is down -4 BPS with 60 minutes left to trade. Inflation Nation: February headline Consumer Prices (CPI) increased by 0.4% on a MOM basis and 6.00% on a YOY basis, both matched market expectations. Core (ex food and energy) was a smidge hotter
READ MOREMBS OVERVIEW 4:00 EST – Our benchmark FNMA MBS 6.00 April Coupon is up +38 BPS with 60 minutes left to trade. There were no economic events today. The Running Man: The bond market continues to benefit from concern over the stability of the financial banking system as Silicon Valley Bank and now Signature Bank
READ MOREU.S. hiring grew in February by more than expected as the labor market remained surprisingly resilient in the face of rising interest rates and higher inflation. Employers added 311,000 jobs in February, the Labor Department said in its monthly payroll report released Friday, easily topping the 205,000 jobs forecast by Refinitiv economists. It marked the second
READ MOREMBS OVERVIEW 4:00 EST – Our benchmark FNMA MBS 6.00 March Coupon is up +23 BPS with 60 minutes left to trade. Domestic Flavor: Jobs, Jobs, Jobs: It was Big Jobs Friday! You can read the official BLS release here. Here is the Tale of the Tape: Jobs: February Seasonally adjusted Non Farm Payrolls (NFP)
READ MOREMBS OVERVIEW Jobs, Jobs, Jobs: The February Challenger Job Cuts report saw a big drop from 103K in Jan down to 78K in Feb. Initial Weekly Jobless Claims were very low but higher than expected with a reading of 211K vs. est. of 195K. The more closely watched 4 week moving average increased slightly to
READ MOREMBS OVERVIEW 4:00 EST – Our benchmark FNMA MBS 6.00 March Coupon is down -16 BPS with 60 minutes left to trade. Taking it to the House: Weekly Mortgage Applications improved by 7.4%, Purchase Applications were up 6.6% and Refinance Applications were up 9.4% Jobs, Jobs, Jobs: The February ADP Employment Change was better than
READ MOREMBS OVERVIEW 4:00 EST – Our benchmark FNMA MBS 6.00 March Coupon is down -20 BPS with 60 minutes left to trade. The Talking Fed: The spotlight today was on Fed Chair Powell as he testified before the Senate Banking Committee at 10 am ET. You can read Powell’s prepared testimony here.Here are a few highlights: Central Bank Palooza: The
READ MOREMBS OVERVIEW 4:00 EST – Our benchmark FNMA MBS 6.00 March Coupon is down -5 BPS with 60 minutes left to trade. Domestic Flavor: Rosie the Riveter: January Factory Orders decreased by -1.6% vs. est. of -1.8%. Across the Pond: Eurozone: Retail Sales were 0.3% vs. est. of 1.0% On Deck for Tomorrow: Reserve Bank
READ MOREMBS OVERVIEW 4:30 EST – Our benchmark FNMA MBS 6.00 March Coupon is up +34 BPS with 30 minutes left to trade. Domestic Flavor: Services: The headline February ISM Non Manufacturing PMI (aka services which represent 2/3 of our economy) was stronger than expected, 55.1 vs. est. of 54.5. Prices Paid were also higher than
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