MBS Alert: Losing Ground After ISM Data

Amber Arwine

Senior Loan Officer

Guaranteed Rate

P: (773) 516-6211

M: (612) 203-1562

E: amber@rate.com

https://www.rate.com/amber

Tiktok - AmberArwineLen...

1806 West Cuyler Avenue
Chicago IL 60613

License:

NMLS 802229

MBS Morning:

MBS Recap:

MBS Alert:

MBS Update:

MBS Huddle:

Losing Ground After ISM Data

Thu, May 1 2025, 10:08 AM

ISM Manufacturing PMI
- 48.7 vs 48.0 f'cast
ISM Prices Paid
- 69.8 vs 70.3 f'cast, 69.4 prev

The S&P version of this data (out 2 weeks ago) suggested we should brace for a big spike in the "prices paid" component. Clearly, that has not materialized. Additionally, the PMI itself was slightly stronger than expected. Bonds are selling on the news with MBS down 2 ticks (.06) on the day and 7 ticks (.22) from the pre-data highs.

10yr yields are now up 2.1bps at 4.18.

More MBS and Treasury Markets

MBS Recap:

Data Dependence is Back, But Not in A Fun Way - Fri, May 2, 8:17 PM

MBS Alert:

Down More Than an Eighth from 10am Levels - Fri, May 2, 3:37 PM

MBS Morning:

Reasonably Strong Jobs Report. Reasonably Weak Reaction in Bonds - Fri, May 2, 2:29 PM

MBS Alert:

First Move is Weaker After Higher Payrolls - Fri, May 2, 12:32 PM

MBS Recap:

Bonds Brace For More Data-Driven Volatility - Thu, May 1, 8:19 PM

Amber Arwine

Senior Loan Officer

Guaranteed Rate

P: (773) 516-6211

M: (612) 203-1562

E: amber@rate.com

https://www.rate.com/amber

Tiktok - AmberArwineLen...

1806 West Cuyler Avenue
Chicago IL 60613

License:

NMLS 802229

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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.