President
Buckeye Lending Solutions, Inc.
License:
Company NMLS#1838265 LO NMLS#9362 OH LO.012547.001

Tech Tanks and Bonds Pick Up The Slack

Tech Tanks and Bonds Pick Up The Slack

What began with focus on funding concerns for Coreweave (and, to a lesser degree, a very small handful of other companies) is spreading to bigger tech names today. Mix and match your favorite combo of disappointing earnings, underwhelming guidance, or cautionary tales from analysts. Any combo you choose adds up to massive losses in tech stocks. From there, several avenues lead back to bond buying. At the most superficial level, we can simply say it's a flight to safety. But thinking deeper, an ongoing AI capex slowdown has implications for econ data and corporate bond issuance that would both benefit Treasuries/MBS. Treasuries were 15+bps lower across the curve (even Fed rate expectations) and MBS were up over 5/8ths. Please consider a NASDAQ chart that shows the sell-offs in early June and late July to understand that nothing definitive has happened yet. 

Latest Video Analysis

Tech Tanks and Bonds Pick Up The Slack

MBS & Treasury Markets
UMBS 6.0
99.55
+0.70 
10YR TREASURY
4.961
-0.164 
10/22/2026 3:39PM EST
There is very little negative reprice risk for the average lender as they're still not fully caught up with the improvements in MBS. But for those few lenders who have aggressively repriced for the better today, there is some small risk of a modest negative reprice as MBS are now 5 ticks (.16) off their best levels.  Lenders who repriced for the better for a 2nd or 3rd time with the most recent reprice being after 2pm are at more risk. Lenders who haven't repriced sin...   READ MORE
Today's Mortgage Rates
30YR Fixed
7.30%
-0.10% 
15YR Fixed
6.96%
-0.08% 
10/22/2026
Interest rates continue taking cues from the market rethinking the pace of AI-related growth/spending. Last week's focus was on Coreweave and a few other companies who saw their cost of financing rapidly increase--a sign that investors were starting to worry about future return of capital. One remedy for such worries is to shift money into the safest parts of the bond market such as US Treasuries and mortgage-backed bonds. As demand for those bonds increases, rates fall. &...   READ MORE
Economic Calendar
Time Event Period Actual Forecast Prior
Thursday, Oct 22
8:30AM Oct/17 Jobless Claims (k) Oct/17 194K 200K 199K
8:30AM Oct/10 Continued Claims (k) Oct/10 1728K 1720K 1710K
10:00AM Sep CB Leading Index MoM (%) Sep 0% -0.1% -0.1%
1:00PM 5-Yr Note Auction (bl) 26
Friday, Oct 23
9:45AM Oct S&P Global Composite PMI Oct 58.4
9:45AM Oct S&P Global Manuf. PMI Oct 55.5 55.9
9:45AM Oct S&P Global Services PMI Oct 58 58.8
10:00AM Oct U Mich conditions Oct 44.7 50.9
10:00AM Oct Sentiment: 1y Inflation (%) Oct 4.7% 4.6%
10:00AM Oct Sentiment: 5y Inflation (%) Oct 3.5% 3.4%
10:00AM Oct Consumer Sentiment (ip) Oct 46.3 48.1
President
Buckeye Lending Solutions, Inc.
License:
Company NMLS#1838265 LO NMLS#9362 OH LO.012547.001