July 5th, 2016
|Tue, Jul 05 5:00 PM Eind of the day|
When the price of Mortgage Backed Securities (MBS) on the above chart above goes up mortgage rates come down. When the price goes down mortgage rates go up.
The chart shows the highest price and lowest yield in at least 2 years.
Below is the news when it happened and market reaction. All of the times below are Eastern Standard TimeMBS spreads hold firm as 10-yr yield sets low new low. After a slow start, volume picked up beginning around mid-morning with it coming in above normal by the close.
Lower yields, higher prices dominated the Bond markets today as the 10-yr T Note yield closed at its lowest on record ... 1.36% on the post Brexit and global growth concerns. There were no economic reports released today. The 3% 30-yr Fannie Mae 30-yr coupon rose by 38bp to end the session at 104.19, below the day's high of 104.28. Stocks fell on Brexit uncertainty, global growth concerns and as oil prices declined. The Dow fell 108.75 points to 17,640.62, the S&P declined 14.40 points to 2,088.55, while the Nasdaq was down 39.66 points to end at 4,822.90. WTI oil was last seen at $46.81/barrel, -$2.18. 10-yr T Note closed at 1.36%. Tomorrow's economic data is limited to June ISM Services. June FOMC minutes due out at 2:00 p.m. ET.
|Tue, Jul 05 4:21 PM - Fed patient on U.S.rates due to Brexit and low inflation.|
|Tue, Jul 05 3:49 PM -Stocks cutting into some gains. MBS off session highs.|
|Tue, Jul 05 3:24 PM - The 10-yr T Note yield falls to its lowest close on record ... 1.36%, reflecting a lack of confidence over the global economy.|
|Tue, Jul 05 3:05 PM - MBS trade in a tight range for the past dew hours as they hold onto solid gains. Dow -128 points.|
|Tue, Jul 05 2:38 PM - MBS prepayments: jump in refi activity expected in MBA report; June prepays out late Thursday.|
|Tue, Jul 05 2:27 PM - 10-yr T note yield hits 1.36%, lowest since 1953.|
|Tue, Jul 05 1:31 PM - The U.S. holds more oil reserves than Saudi Arabia and Russia.|
|Tue, Jul 05 1:18 PM - The FBI recommends no charges for Hillary Clinton in email probe.|
|Tue, Jul 05 12:59 PM - At midday, MBS holding solid gains. Stocks underwater on renewed global growth concerns.|
|Tue, Jul 05 12:31 PM - Small business hiring picked up in June to the highest level this year.|
|Tue, Jul 05 12:17 PM - MBS continue to edge higher hitting multi-year highs.|
|Tue, Jul 05 12:13 PM - U.S. Stocks skid as global growth worries resurface.|
|Tue, Jul 05 10:39 AM - CoreLogic forecasts that home prices will rise 5.3% from May 2016 to May 2017.|
|Tue, Jul 05 9:48 AM - MBS at session highs as Stock losses accelerate.|
|Tue, Jul 05 9:41 AM - Stocks open lower, Dow down 85 points.|
|Tue, Jul 05 8:43 AM - CoreLogic reports home prices, including distressed sales, rose 5.9% from May 2015 to May 2016.|
|Tue, Jul 05 8:41 AM - WTI oil at 47.58/barrel -$1.41.|
|Tue, Jul 05 8:41 AM - U.S. dollar index 95.80, +0.08.|
|Tue, Jul 05 8:40 AM - 10-yr T Note yield near 4-yr lows at 1.39%.|
|Tue, Jul 05 8:38 AM - S&P futures lower as investors shift their attention to global growth worries post Brexit.|
|Tue, Jul 05 8:26 AM - There are no economic reports due for release today and the week's calendar is on the light side. However, the Jobs Report for June will be released on Friday, while the ADP Private Payrolls report will be delivered on Thursday.|
|Tue, Jul 05 8:22 AM - MBS begin the week higher as global as well as domestic Stocks pull back from the post-Brexit rally and commodity prices fall.|