• June 6, 2023
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• realestatelife

MBS OVERVIEW 4:00 pm EST – Our benchmark FNMA MBS 6.00 June Coupon is up +6 BPS with 60 minutes left to trade. Optimism?: The June IBD/TIPP Economic Optimism Survey came in at 41.7 vs May’s level of 41.6, so it remains extremely low. The expectations were for 45.2 Central Bank Palooza: The Reserve Bank

• June 5, 2023
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• realestatelife

MBS OVERVIEW 4:00 pm EST – Our benchmark FNMA MBS 6.00 June Coupon is down -15 BPS with 60 minutes left to trade. Domestic Flavor: Rosie the Riveter: April Factory Orders were lighter than expected, 0.4% vs est of 0.5% and more than half of March’s pace of 0.9%. Services: The May national ISM Non

• June 2, 2023
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• realestatelife

MBS OVERVIEW 3:30 EST – Our benchmark FNMA MBS 6.00 June Coupon is down -25 BPS with 90 minutes left to trade. Jobs, Jobs, Jobs: Its Big Jobs Friday and we got a mixed bag of data. You can read the official BLS release here. Here is the Tale of the Tape: Jobs: May Non

• June 1, 2023
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• realestatelife

MBS OVERVIEW 4:00 EST – Our benchmark FNMA MBS 6.00 June Coupon is up +20 BPS with 60 minutes left to trade. Domestic Flavor: Rosie the Riveter: The 1st QTR Non Farm Productivity was revised higher vs its original release, -2.1% vs -2.7%. Unit Labor Costs were revised downward materially, from 6.3% down to 4.2%.

• May 31, 2023
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• realestatelife

MBS OVERVIEW ​ 4:00 EST – Our benchmark FNMA MBS 6.00 June Coupon is up +42 BPS with 60 minutes left to trade. Domestic Flavor: Taking it to the House: Weekly Mortgage Applications fell again, this time by -3.7%. Refinances were down -6.9% and Purchases were down by -2.5%. Rosie the Riveter: The May Chicago

• May 30, 2023
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• realestatelife

MBS OVERVIEW 4:00 EST – Our benchmark FNMA MBS 6.00 June Coupon is up +49 BPS with 60 minutes left to trade. Taking it to the House: The March FHFA Housing Price Index showed a MOM gain of 0.6% which was much stronger than expected 0.2%. The March Case Shiller Metro City Index, showed a

• May 26, 2023
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• realestatelife

MBS OVERVIEW Rosie the Riveter: April Headline Durable Good Orders were up 1.1% vs. est. of -1.0%. Ex Transportation, they were down -0.2% vs. est. of -0.1%. Non-Defense Capital Goods Orders Ex-Aircraft was up 1.4% vs. est. of -0.2%. Inflation Nation: The Fed’s Key measure of Inflation, Core PCE (which is PCE ex food and

• May 25, 2023
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• realestatelife

MBS OVERVIEW Taking it to the House: The April Pending Home Sales Index (which is only an estimate and not actually a sum of all contracts signed but not yet closed) was flat at 0.0% vs. est. of 1.0%. March was -5.2% Jobs, Jobs, Jobs: Initial Weekly Jobless Claims were only 229K vs. est. of

• May 24, 2023
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• realestatelife

MBS OVERVIEW 4:00 EST – Our benchmark FNMA MBS 6.00 June Coupon is down -17 BPS with 60 minutes left to trade. Domestic Flavor: Taking it to the House: Weekly Mortgage Applications fell again, this time down -4.6%. Refinances were down -5.4% and Purchases were down -4.3% The Talking Fed: We got the Minutes from

• May 22, 2023
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• realestatelife

MBS OVERVIEW 4:00 EST – Our benchmark FNMA MBS 6.00 June Coupon is up +9 BPS with 60 minutes left to trade. Rosie the Riveter: The May Richmond Fed Manufacturing Index contracted again with a reading of -15 vs. est. of -10. The May Markit Manufacturing PMI cratered, contracting at 48.5 vs. April’s expansionary reading