• March 13, 2023
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MBS OVERVIEW 4:00 EST – Our benchmark FNMA MBS 6.00 April Coupon is up +38 BPS with 60 minutes left to trade. There were no economic events today. The Running Man: The bond market continues to benefit from concern over the stability of the financial banking system as Silicon Valley Bank and now Signature Bank

• March 10, 2023
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U.S. hiring grew in February by more than expected as the labor market remained surprisingly resilient in the face of rising interest rates and higher inflation. Employers added 311,000 jobs in February, the Labor Department said in its monthly payroll report released Friday, easily topping the 205,000 jobs forecast by Refinitiv economists. It marked the second

• March 10, 2023
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MBS OVERVIEW 4:00 EST – Our benchmark FNMA MBS 6.00 March Coupon is up +23 BPS with 60 minutes left to trade. Domestic Flavor: Jobs, Jobs, Jobs: It was Big Jobs Friday! You can read the official BLS release here. Here is the Tale of the Tape: Jobs: February Seasonally adjusted Non Farm Payrolls (NFP)

• March 9, 2023
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MBS OVERVIEW Jobs, Jobs, Jobs: The February Challenger Job Cuts report saw a big drop from 103K in Jan down to 78K in Feb. Initial Weekly Jobless Claims were very low but higher than expected with a reading of 211K vs. est. of 195K. The more closely watched 4 week moving average increased slightly to

• March 8, 2023
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MBS OVERVIEW 4:00 EST – Our benchmark FNMA MBS 6.00 March Coupon is down -16 BPS with 60 minutes left to trade. Taking it to the House: Weekly Mortgage Applications improved by 7.4%, Purchase Applications were up 6.6% and Refinance Applications were up 9.4% Jobs, Jobs, Jobs: The February ADP Employment Change was better than

• March 7, 2023
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MBS OVERVIEW 4:00 EST – Our benchmark FNMA MBS 6.00 March Coupon is down -20 BPS with 60 minutes left to trade. The Talking Fed:  The spotlight today was on Fed Chair Powell as he testified before the Senate Banking Committee at 10 am ET. You can read Powell’s prepared testimony here.Here are a few highlights: Central Bank Palooza: The

• March 6, 2023
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MBS OVERVIEW 4:00 EST – Our benchmark FNMA MBS 6.00 March Coupon is down -5 BPS with 60 minutes left to trade. Domestic Flavor: Rosie the Riveter: January Factory Orders decreased by -1.6% vs. est. of -1.8%. Across the Pond: Eurozone: Retail Sales were 0.3% vs. est. of 1.0% On Deck for Tomorrow: Reserve Bank

• March 3, 2023
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MBS OVERVIEW 4:30 EST – Our benchmark FNMA MBS 6.00 March Coupon is up +34 BPS with 30 minutes left to trade. Domestic Flavor: Services: The headline February ISM Non Manufacturing PMI (aka services which represent 2/3 of our economy) was stronger than expected, 55.1 vs. est. of 54.5. Prices Paid were also higher than

• March 2, 2023
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MBS OVERVIEW 4:00 EST – Our benchmark FNMA MBS 6.00 March Coupon is down -14 BPS with 60 minutes left to trade. Domestic Flavor: Jobs, Jobs, Jobs: Initial Weekly Jobless Claims were lower than expected (190K vs. est. of 195K). The more closely watched 4 week moving average is very low at 193K. Continuing Claims

• March 1, 2023
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MBS OVERVIEW 4:00 EST – Our benchmark FNMA MBS 6.00 March Coupon is down -26 BPS with 60 minutes left to trade. Domestic Flavor: Taking it to the House: Weekly Mortgage Applications dropped for the third week in a row, this time by -5.7%. Refinances were down -5.5% and Purchases were down -5.7%. Rosie the