Legit Buying Demand or Position Squaring?

Legit Buying Demand or Position Squaring? "Position squaring" is fancy market jargon that refers to closing previously open positions, but it can also refer to taking opposing positions to square up one's risk exposure. A "position" is just a bet on rates moving higher or lower. Traders have been in short positions on rates this week (i.e. betting on rates going higher). Is the squaring of these positions for the 3-day weekend the only way to explain today's moderate mid-day improvement or were there legitimate sources of inspiration? Econ Data / EventsImport Prices-0.2 vs -0.2 f'cast, -0.1 prev Leading Economic Indicators-0.3 vs -0.3 f'cast, -0.8 prev Market Movement Recap09:00 AM Slightly weaker out of the gate in Asia with additional weakness in Europe, but some resilience heading into domestic hours. 10yr up 2.5bps at 3.886. MBS down a quarter point. 10:29 AM Bonds bouncing back with 10yr yields unchanged at 3.857. MBS still slightly weaker, but well off their AM lows. 02:01 PM MBS edging into positive territory in the PM hours with 5.0 coupons up 1 tick (0.03). 10yr yields down 3.5bps at 3.828. 04:03 PM Best levels of the day in after hours trading. 10yr down 4.8bps at 3.815 and MBS up 5 ticks (.16).

February 17, 2023 Download our Mobile App: Download our Mobile App: MBS Commentary Legit Buying Demand or Position Squaring? Legit Buying Demand or Position Squaring? "Position squaring" is fancy market jargon that refers to closing previously open positions, but it can also refer to taking opposing positions to square up one's ris... (read more) Rob Chrisman Marketing, PPE, Broker to Banker, Customer Experience Tools; CFPB on Credit Payments; Disaster News; Redfin in the Red Nature is full of trivia. The moon moves about two inches away from the Earth each year. The Earth gets 100 tons heavier every day due to falling space dust. The climate, obviously, is part of nature. Climate, and natural disasters, impact our client... (read more) Mortgage Rates 30 Yr. Fixed Rate 6.80% +0.02% Rate Change Points Mortgage News Daily 30 Yr. Fixed 6.80% +0.02 0.00 15 Yr. Fixed 5.95% +0.01 0.00 30 Yr. FHA 6.12% -0.02 0.00 30 Yr. Jumbo 6.25% 0.00 0.00 5/1 ARM 6.66% -0.02 0.00 30 Yr. VA 6.12% -0.01 0.00 Updates Daily - Last Update: 2/17 15 Yr. Fixed Rate 5.95% +0.01% Rate Change Points Freddie Mac 30 Yr. Fixed 6.32% +0.20 0.00 15 Yr. Fixed 5.51% +0.26 0.00 Updates Weekly - Last Update: 2/16 Rate Change Points Mortgage Bankers Assoc. 30 Yr. Fixed 6.39% +0.21 0.70 15 Yr. Fixed 5.85% +0.21 0.81 30 Yr. Jumbo 6.26% +0.30 0.43 Updates Weekly - Last Update: 2/15 MBS / Treasuries UMBS 30YR 5.0 98.75 +0.13 Price / Yield Change MBS UMBS 5.0 98.75 +0.13 UMBS 5.5 100.20 +0.13 GNMA 5.0 99.25 +0.03 GNMA 5.5 100.56 -0.06 Pricing as of: 2/17 5:31PM EST 10 Year US Treasury 3.8225 -0.0403 Price / Yield Change US Treasury 2 YR Treasury 4.634 -0.010 5 YR Treasury 4.029 -0.045 7 YR Treasury 3.946 -0.042 10 YR Treasury 3.823 -0.040 30 YR Treasury 3.872 -0.046 Pricing as of: 2/17 5:31PM EST Latest Video January LEI fell by 0.3%, in line with market expectations St. Louis Fed's Bullard can't rule out a 50 basis point hike at March meeti... Hotter-than-expected inflation pushes Treasury rates higher U.S. import prices decline 0.2% in January Around the Web Calculated Risk Blog Realtor.com Reports Weekly Active Inventory Up 70% YoY; New Listings Down 13% YoY Eye on Housing Market Share of All-Cash New Home Sales Hits 32-Year High Calculated Risk Blog 3rd Look at Local Housing Markets in January; Lawler: Early Read on Existing Home Sales in January Calculated Risk Blog MBA: "Mortgage Delinquencies Increase in the Fourth Quarter of 2022" Wall Street Journal Fed's Barkin Supports Measured Pace of Interest-Rate Increases YF Fed's Mester saw 'compelling' case for 0.50% rate hike this month Eye on Housing Townhouse Construction Share Climbs to Near Four-Decade High CNBC Treasury yields rise as investors digest inflation data, assess Fed policy outlook Calculated Risk Blog Q1 GDP Tracking: Around 1.5% Eye on Housing Single-Family Built-for-Rent Growth Strong in 2022 Calculated Risk Blog NY Fed Q4 Report: Household Debt Increases, Mortgage and Auto Loan Growth Slows Eye on Housing Credit for Builders Tightens as Rates Climb Calculated Risk Blog Hotels: Occupancy Rate Down 8.7% Compared to Same Week in 2019

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