This is a DEMO marketing message. You can use them for promotional text. Mortgage rates are moving back down so feel free to give me a call or visit my website and I'll give you a quote.
Bonds were moderately weaker in the overnight session but are erasing those losses after ADP employment came out much weaker than expected. 10yr yields are still slightly higher on the day, up 3bps at 4.27, but this has to do with yield curve steepening. 5yr yields, on the other hand, are back to unchanged.
MBS are also back to unchanged, which is understandable given their closer relationship with 5yr Treasuries these days. Either way, markets aren't going to crazy on this single report as it frequently gives a contrary signal to nonfarm payrolls.
slightly weaker overnight but erasing losses after ADP data--at least in the shorter end of the yield curve. MBS now unchanged. 10yr up 4bps at 4.279, but 2yr is down 1.7bps.
09:15 AM
Back down to weaker levels. MBS down 5 ticks (.16) and 10yr up 5.3bps at 4.292
A message from Matthew M. Loan:
This is a DEMO marketing message. You can use them for promotional text. Mortgage rates are moving back down so feel free to give me a call or visit my website and I'll give you a quote.
Bonds were moderately weaker in the overnight session but are erasing those losses after ADP employment came out much weaker than expected. 10yr yields are still slightly higher on the day, up 3bps at 4.27, but this has to do with yield curve steepening. 5yr yields, on the other hand, are back to unchanged.
MBS are also back to unchanged, which is understandable given their closer relationship with 5yr Treasuries these days. Either way, markets aren't going to crazy on this single report as it frequently gives a contrary signal to nonfarm payrolls.