Gregory Richardson
EVP - Capital Markets
Primis Mortgage Company
M: (704) 651-8419
MBS & US Treasury Markets
UMBS 5.0
99.89 +0.11
GNMA 5.0
99.94 +0.13
UMBS-15 5.0
101.43 -0.01
10 YR TREAS
4.136 -0.029
30 YR TREAS
4.812 -0.055
1/7 2:05:58PM EST : Delayed Data
30YR UMBS 5.0 30YR GNMA 5.0 15YR UMBS 5.0 10 Year Treasury 30 Year Treasury
Down an Eighth From Highs After 10am Data
Wed, Jan 7 2026, 10:11 AM
  • ISM N-Mfg PMI (Dec)
    • 54.4 vs 52.3 f'cast, 52.6 prev
  • ISM Services Employment (Dec)
    • 52.0 vs -- f'cast, 48.9 prev
  • ISM Services New Orders (Dec)
    • 57.9 vs -- f'cast, 52.9 prev
  • ISM Services Prices (Dec)
    • 64.3 vs -- f'cast, 65.4 prev
  • JOLTs Job Quits (Nov)
    • 3.161Mvs -- f'cast, 2.941M prev
  • USA JOLTS Job Openings (Nov)
    • 7.146M vs 7.60M f'cast, 7.670M prev

ISM's non-manufacturing PMI is leading the charge in the 10am hour. It was stronger across the board with a notable uptick in new orders and employment.  Any time this report shows a relatively large uptick in employment, it's a concern on NFP week. 

Job openings fell (good for rates), but that was offset by an increase in the "quits" rate (higher = worse for rates). 

MBS are down an eighth of a point from AM highs and 10yr yields are up 2bps from before the data at 4.158 (still down modestly on the day).

MBS Morning:
Stronger Start Thanks to Europe and ADP
Alert:
Weakest Levels and Some Reprice Risk
08:17 AM

Steadily stronger overnight and slightly stronger after ADP.  MBS up 5 ticks (.16) and 10yr down 4.2bps at 4.123

10:02 AM

Losing ground after 10am data. MBS back to unchanged and 10yr down 1.3bps at 4.152

12:06 PM

Recovering a bit into mid-day. MBS up 3 ticks (.09) and 10yr down 2.8bps at 4.138

Gregory Richardson
EVP - Capital Markets
Primis Mortgage Company
M: (704) 651-8419
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