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.
Last Thursday, we discussed the paradox of a rally in the present moment being driven by future data. More specifically, the three downbeat labor market reports increased the stakes for tomorrow's jobs report. Depending on trends and trading positions, risks can be asymmetrical. A trader who expected higher rates might have only seen a modest increase in yields if the data was stronger, and a bigger decrease in yields if the data was weaker. The market already rejected a break above 4.30% in the 10yr. Then multiple reports suggested additional buying and additional risk of a weak jobs report. The choice to move back toward a familiar recent range (4.1-4.2) became clear with this morning's weak retail sales data. Just be aware that if Wednesday's jobs report is stronger, yields could pop right back over 4.20.
Gradually stronger overnight with additional gains after 8:30am data. 10yr down 5bps at 4.157 and MBS up 2 ticks (.06).
11:15 AM
Additional gains. MBS up an eighth of a point and 10yr down 7.3bps at 4.135
01:10 PM
off the best levels, but still stronger. MBS up 3 ticks (.09) and 10yre down 5.9bps at 4.149
02:55 PM
Drifting sideways into the close with MBS up 2 ticks (.06) and 10yr yields down 6.1bps at 4.147
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.
Last Thursday, we discussed the paradox of a rally in the present moment being driven by future data. More specifically, the three downbeat labor market reports increased the stakes for tomorrow's jobs report. Depending on trends and trading positions, risks can be asymmetrical. A trader who expected higher rates might have only seen a modest increase in yields if the data was stronger, and a bigger decrease in yields if the data was weaker. The market already rejected a break above 4.30% in the 10yr. Then multiple reports suggested additional buying and additional risk of a weak jobs report. The choice to move back toward a familiar recent range (4.1-4.2) became clear with this morning's weak retail sales data. Just be aware that if Wednesday's jobs report is stronger, yields could pop right back over 4.20.