March 17th, 2017
Commentary at the close: MBS were able to edge higher in today's session as Stocks pause after the recent rally.(See below)
3.5% Fannie Mae 30-yr coupon down 16 bp at a price of 101.66 up 9 bp when rates were set yesterday at 10:00 am Open 101.53 High 101.72 Low 101.41.
Consumer Sentiment for March was better than expected but had little impact on the markets. Stocks closed near unchanged. The Dow lost a meager 19.93 points, S&P fell 3.13 points to 2,378.25, while the NASDAQ was near unchanged at 5,900.99. WTI oil was last seen at $48.73/barrel, near unchanged. 10-yr Note yield 2.50%. Next week's economic calendar is on the light side. Have a great weekend!
What Is Going On With Interest Rates? #wigowir
Below is the news when it happened and the market’s reaction. For a full view of the day start at the bottom and work your way up. If want to know what just happened start at the top. All Times are Eastern Standard Time. When the price of Mortgage Backed Securities (MBS) goes down rates go up, and when the price goes up rates come down. Remember in the bond market Bad News is Good News and Good News is Bad news.
3:56 PM Stocks closing near unchanged.
|1:53 PM Stocks edge into positive territory.|
|1:27 PM Past midday, MBS holding gains, Stocks near unchanged. 10-yr yield 2.49%.|
|10:28 AM The S&P continues to trade near unchanged, while MBS hold gains.|
|10:01 AM Consumer Sentiment in March at 97.6 vs the 96.8 expected.|
|9:32 AM U.S. dollar index 100.21, near unchanged.|
|9:32 AM Stocks open slightly higher.|
|8:26 AM WTI oil $48.94, +$0.19.|
|8:24 AM S&P futures near unchanged.|
|8:23 AM 10-yr T Note yield 2.52% from 2.54% at yesterday's close.|
|8:22 AM MBS open near unchanged with limited overnight news as the volatile week comes to a close.|
|8:18 AM Happy St. Patrick's Day!|
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