MBS Update: Minimal Impact From ISM Data; Gains Intact

Sean Bailey

Branch Operator

Caliver Beach Mortgage

M: (678) 231-2462

E: seanb@caliverbeach.com

www.investwithsean.com

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Jacksonville FL 32073

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NMLS # 2128276

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MBS Morning:

MBS Recap:

MBS Alert:

MBS Update:

MBS Huddle:

Minimal Impact From ISM Data; Gains Intact

Tue, Sep 3 2024, 10:06 AM

S&P Manufacturing PMI
- 47.9 vs 48.0 f'cast
ISM Manufacturing PMI
- 47.2 vs 47.5 f'cast
ISM Prices
- 54.0 vs 52.5 f'cast

The 10am ISM Manufacturing report was today's biggest ticket in terms of econ data. It was a bit of a mixed result with the headline suggesting bond buying and the price component pushing back in the other direction. The headline seems to be getting a bit more attention for now, but the reaction has been anything but swift.

Most of the movement was seen at the outset with "new month" trading bringing in the buyers.

10yr yields are down 7bps at 3.835 and MBS are up roughly a quarter of a point.

More MBS and Treasury Markets

MBS Recap:

Wild Ride on Jobs Day as Fed Speakers Steal The Show - Fri, September 6, 9:33 PM

MBS Alert:

Lenders Could Reprice in EITHER Direction - Fri, September 6, 4:32 PM

MBS Morning:

Jobs Report Does Nothing to Resolve Fed Rate Cut Debate - Fri, September 6, 2:55 PM

MBS Update:

Reversal Reversing (Bonds Turning Green) - Fri, September 6, 2:37 PM

MBS Alert:

Bonds Fully Erase Post-NFP Gains - Fri, September 6, 1:37 PM

Sean Bailey

Branch Operator

Caliver Beach Mortgage

M: (678) 231-2462

E: seanb@caliverbeach.com

www.investwithsean.com

Pre-Approval Link!

Get A Quote!

Jacksonville FL 32073

License:

NMLS # 2128276

Ask Me a Question

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