MBS Alert: Losing Some Ground After Payroll Revisions

Philip Bennett

President

Bennett Capital Partners

P: (800) 457-9057

M: (305) 407-0747

bcpmortgage.com

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1101 Brickell Ave, Suite 800
Miami FL 33131

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Pers# 1098318

Corp# 2046862

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MBS Morning:

MBS Recap:

MBS Alert:

MBS Update:

MBS Huddle:

Losing Some Ground After Payroll Revisions

Wed, Aug 21 2024, 10:39 AM

Quarterly Census of Employment and Wages (QECW) for March 2024
- Revised down 818k

Expectations for this revision ranged from 600k to 1m. The bond market is initially losing some ground on the news, but this may play out in more of a back and forth fashion.

For now though, lenders who were already out with rates could be considering a negative reprice with MBS down 5 ticks (.16) from the highs.

10yr yields are now up 1.4bps a 3.82 after hitting lows of 3.78 in the initial confusion.

More MBS and Treasury Markets

MBS Recap:

Month-End Volatility, But No Bearing on Bigger Picture - Fri, August 30, 8:31 PM

MBS Alert:

Down an Eighth From Highs - Fri, August 30, 4:20 PM

MBS Morning:

PCE Inflation Offers No Objections to 25bp Cut - Fri, August 30, 1:14 PM

MBS Update:

Core PCE in Line With Expectations. Minimal Reaction - Fri, August 30, 12:34 PM

MBS Recap:

A Clear Reaction to Data Without Any Major Drama - Thu, August 29, 9:00 PM

Philip Bennett

President

Bennett Capital Partners

P: (800) 457-9057

M: (305) 407-0747

bcpmortgage.com

Apply Now

1101 Brickell Ave, Suite 800
Miami FL 33131

License:

Pers# 1098318

Corp# 2046862

Ask Me a Question

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Reproduction or redistribution this newsletter, outside of the distribution services provided, is prohibited. Interest rate data provided in this newsletter are national averages. Rate/APR terms may differ. All information provided "as is" for informational purposes only.