• July 11, 2023
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MBS OVERVIEW Half Full: The June NFIB Small Business Optimism Index increased from 89.4 to 91.0 and beat out forecasts of 89.9. The June IBD/TIPP Economic Optimism will hit at 10 am. The Talking Fed: St. Louis Fed President Bullard will speak today. Treasury Dump: We kick off three days of dumping our debt into

• July 10, 2023
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MBS OVERVIEW 4:00 EST – Our benchmark FNMA MBS 6.00 July Coupon is currently up +33 BPS. Three Things: These are the three areas that have the greatest ability to impact your backend pricing this week. 1) Inflation Nation, 2) The Talking Fed and 3) Central Bank Palooza 1) Inflation Nation: We get several measures

• July 7, 2023
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MBS OVERVIEW Our benchmark FNMA MBS 6.00 July Coupon is currently down -8 BPS. Jobs, Jobs, Jobs: Its Big Jobs Friday! You can read the official BLS report here. Here is the Tale of the Tape: Jobs: June Non Farm Payrolls (NFP) increased by 209K vs. estimates of 225K May NFP were revised downward from

• July 6, 2023
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MBS OVERVIEW Our benchmark FNMA MBS 6.00 July Coupon is currently down -31 BPS. Taking it to the House: Weekly Mortgage Applications fell by -4.4%. Purchases were down -4.6% and Refinances were down -4.1%. Jobs, Jobs, Jobs: We have several key jobs reports this morning: The Talking Fed: Today we will hear from Dallas Fed

• July 3, 2023
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MBS OVERVIEW Three Things: These are the three areas that have the greatest ability to impact your backend pricing this week. 1) Jobs, Jobs, Jobs, 2) The Talking Fed and 3) Rosie the Riveter 1) Jobs, Jobs, Jobs: We get a ton of job and wage related data this week culminating in Big Jobs Friday.

• June 30, 2023
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MBS OVERVIEW Our benchmark FNMA MBS 6.00 July Coupon is currently up +21 BPS. Inflation Nation: The Fed’s key measure of inflation, Core PCE (Ex food and energy) increased in May by 0.3% on a MOM basis on top of April’s increase of 0.4%. The consensus estimates were from 0.4%. YOY, Core PCE was up

• June 29, 2023
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MBS OVERVIEW Our benchmark FNMA MBS 6.00 July Coupon is currently down -31 BPS. Taking it to the House: The May Pending Home Sales Index dropped by -2.7% vs. 0.2%. Jobs, Jobs, Jobs: Initial Weekly Jobless Claims were better (lower) than expected, 239K vs. est. of 265K. The more closely watched 4 week moving average

• June 28, 2023
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MBS OVERVIEW Our benchmark FNMA MBS 6.00 July Coupon is currently up +20 BPS. Taking it to the House: Weekly Mortgage Applications increased by 3.0%. Refinances were up 3.3% and Purchases were up 2.8% Central Bank Palooza: We heard from ALL the bigwigs today in a Central Bankers panel in Portugal. MBS didn’t have much

• June 27, 2023
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MBS OVERVIEW Our benchmark FNMA MBS 6.00 July Coupon is currently down -11 BPS. Rosie the Riveter: May Durable Goods were much stronger than expected with the headline reading rising by 1.7% vs. est. of a contraction of -1.0%. Ex Transportation, it was up 0.6% vs. est. of -0.1% and Non Defense Capital Goods Ex

• June 26, 2023
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MBS OVERVIEW Our benchmark FNMA MBS 6.00 July Coupon is currently up just +6 BPS. Rosie the Riveter: The June Dallas Fed Manufacturing Survey continued to slump with a contractionary reading of -26.5 which follow May’s very weak -29.1. Treasury Dump: We kicked off three days of dumping our debt into the marketplace with our