MBS Update: Nice Little Rally on PMI Data

John "Demo" Lender

VP of Lending

Demo Mortgage Co.

P: (704) 555-1212

M: (407) 555-1234

mbslive.net

10014 Normal Blvd.
Suite B225
Charlotte NC 28044

License:

NMLS: 123456

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MBS Morning:

MBS Recap:

MBS Alert:

MBS Update:

MBS Huddle:

Nice Little Rally on PMI Data

Tue, Apr 23 2024, 9:51 AM

S&P Services PMI
- 50.9 vs 52.0 f'cast
S&P Manufacturing PMI
- 49.9 vs 52.0 f'cast

The S&P PMI data (previously "Markit") has increasingly been a tradeable event in the past few years and we have the latest example just now. 10yr yields were up near 4.65 just before the data, but dropped a quick 4+ bps to 4.603. This brings them down just under 1bp on the day.

MBS are having a more modest reaction by comparison due to AM liquidity and general underperformance. 6.0 coupons are still down ticks (.06) on the day, but up nearly an eighth from the lows.

More MBS and Treasury Markets

MBS Recap:

Moderate, Inconsequential Weakness - Fri, 7:31 PM

MBS Alert:

Weakest Levels of The Day - Fri, 4:47 PM

MBS Morning:

11 Day Weekend Starts Now - Fri, 3:12 PM

MBS Recap:

Gradual Weakness All Day And a Quieter Calendar Ahead - Thu, 9:00 PM

MBS Alert:

Negative Reprices Becoming More Likely - Thu, 6:28 PM

John "Demo" Lender

VP of Lending

Demo Mortgage Co.

P: (704) 555-1212

M: (407) 555-1234

mbslive.net

10014 Normal Blvd.
Suite B225
Charlotte NC 28044

License:

NMLS: 123456

Ask Me a Question

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