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Listen Live
Saturday’s: 9AM 1590 AM/97.9 FM KVTA
Sunday’s: 7AM K-EARTH 101 FM
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
READ MOREMBS 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
READ MOREMBS 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
READ MOREMBS 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
READ MOREMBS OVERVIEW 4:00 EST – Our benchmark FNMA MBS 6.00 June Coupon is down -17 BPS with 60 minutes left to trade. There were no economic releases today. The Talking Fed: Fed Chair Powell talked out of both sides of his mouth today, giving fuel to those that expect a pause and to those that
READ MOREMBS OVERVIEW 4:00 EST – Our benchmark FNMA MBS 6.00 June Coupon is down -17 BPS with 60 minutes left to trade. Taking it to the House: April Existing Home Sales hit 4.28M units on an annualized basis which was very close to expectations of 4.3M. The median existing-home price for all housing types in
READ MOREMBS OVERVIEW 4:00 EST – Our benchmark FNMA MBS 6.00 June Coupon is up +11 BPS with 60 minutes left to trade. Taking it to the House: Weekly Mortgage Applications dropped by -5.7%. Refinances tanked by -7.7% and Purchases fell by -4.8%. April Building Permits were 1.416M units on an annualized basis, vs. est. of
READ MOREMBS OVERVIEW 4:00 EST – Our benchmark FNMA MBS 6.00 June Coupon is down -10 BPS with 60 minutes left to trade. Retail Sales: The April Headline Retail Sales data showed only a 0.4% MOM increase vs. est. of 0.7%. Ex- Autos, it was up 0.4% which matched expectations. The strength of the report came
READ MOREAmericans racked up more debt at the beginning of 2023 – and a growing number of households fell behind on payments for several types of loans, according to a New York Federal Reserve report published Monday. In the first three months of 2023, total household debt surged to a fresh record of $17.05 million, an
READ MOREMBS OVERVIEW 4:00 EST – Our benchmark FNMA MBS 6.00 June Coupon is up +1 BPS with 60 minutes left to trade. Rosie the Riveter: After a surprise gain in April, the May Empire State Manufacturing Index dropped to its worst level (excluding the COVID shutdown). It dropped from +10.8 in April down to -31.8
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