Orderly Move to Highest Yields in 8 Months Bonds reacted logically to this morning's econ data at 10am. ISM Services' inflation component was one of the worst offenders, but higher job openings didn't help. The spike in yields was instantaneous but fairly well contained. Bonds managed to drift sideways for the entire session after that with no discernible reaction to the 10yr Treasury auction (not a surprise considering it was very close to expected levels). All told, yields inched up to the highest since April 2024, but in a very orderly way. Econ Data / EventsJob Openings8.098m vs 7.7m f'cast, 7.839m f'cast ISM Services54.1 vs 53.3 f'cast, 52.1 prev ISM Services Prices64.4 vs 57.5 f'cast, 58.2 prev Market Movement Recap10:17 AM Just slightly weaker overnight with additional selling after ISM data. MBS down 6 ticks (.19) and 10yr up 4.6bps at 4.678 01:04 PM No major reaction to ho-hum Treasury auction. 10yr up 4.3bps at 4.676 and MBS down just over an eighth. 04:11 PM Sideways since 10am, essentially, with MBS down 6 ticks (.19) and 10yr up 5.9bps at 4.691
Orderly Move to Highest Yields in 8 Months Bonds reacted logically to this morning's econ data at 10am. ISM Services' inflation component was one of the worst offenders, but higher job openings didn't h... (read more)
We came into the current week knowing that rates would take cues from any clear cues in this week's economic data. In general, that means higher rates in response to stronger data or lower rates if the data is weaker. Today's data w... (read more)
“We all get the same 365 days. The only difference is what we do with them.” In 2024 a lot of lenders buckled down every day. Time to take a breather? Maybe not: mortgage bankers still face pressure on profit margins. In today’s Advisory Angle at 11A... (read more)
Interest rates displayed are national averages and for informational purposes only. Actual rates from lenders may vary based on several factors including, but not limited to, credit worthiness, ability to replay, credit score, down payment, loan term, etc.
