Mike Hardy
Mortgage Advisor
License:
NMLS #1175689
DRE #01326046
MBS & US Treasury Markets
4/4 1:43:46PM EST : Delayed Data

Despite today being "jobs report Friday," and despite the jobs report perennially having the power to cause big volatility for financial markets, overnight developments proved to be far more consequential.  Specifically, China's announcement of retaliatory tariffs send stocks and bond yields into a swan dive at 6am ET.  The stronger jobs report ended up having very little impact by comparison.  Even now, trade headlines regarding Trump's call with Vietnam are doing more to move markets than econ data. Bonds are still stronger, but not as strong as they were in the early morning hours. 

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Despite the push-back.  Bigger picture still looks good.

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08:26 AM

Sharply stronger overnight.  MBS up 3/8ths and 10yr down 13.5bps at 3.895

09:10 AM

Losing some more ground now.  MBS up only a quarter point and 10yr down 9.9bps at 3.93 (up from lows of 3.87)

Mike Hardy
Mortgage Advisor
License:
NMLS #1175689
DRE #01326046