Bonds Manage to Hold Gains Despite Risk Recovery

Bonds Manage to Hold Gains Despite Risk Recovery Everything has been driven by the "risk-on, risk-off" movements relating to the banking sector over the past 2 weeks. The only brief exception was on Fed day, but markets still managed to fall into a flight-to-safety pattern by the end of that day. Another flight-to-safety showed up overnight--this time driven by Deutsche Bank. EU bonds led US bond yields lower, but the momentum reversed course before 7am ET. The rest of the day saw stocks and EU bonds trudge back toward or above yesterday's levels. US bonds managed to hold some of the gains with 3.382 emerging as a good pivot point for 10yr yields. Econ Data / EventsDurable Goods -1.0 vs 0.6 f'cast, -5.0 prev Durables, excluding aircraft/defense0.2 vs 0.0 f'cast, last month revised to 0.3 from 0.8 Markit Services PMI53.8 vs 50.5 f'cast, 50.6 prev Market Movement Recap09:15 AM 10yr down 11.2bps at 3.302. MBS up more than a quarter point on Deutsche Bank concerns. 10:00 AM Losing ground after PMI data and a correction in EU bonds. 10yr down 5.6bps at 3.359. MBS down an eighth on the day and a quarter point from AM highs. 11:18 AM Recovering a bit. MBS back near unchanged levels. 10yr down 6bps at 3.356. 02:50 PM MBS still near unchanged levels. 10yr now down only 4.5bps at 3.369

March 24, 2023 Download our Mobile App: Download our Mobile App: MBS Commentary Bonds Manage to Hold Gains Despite Risk Recovery Bonds Manage to Hold Gains Despite Risk Recovery Everything has been driven by the "risk-on, risk-off" movements relating to the banking sector over the past 2 weeks. The only brief exception was on Fed... (read more) Rob Chrisman MSR Financing, Marketing, Appraisal, DPA Products; Fannie, Freddie Changes; EU Central Bank News “I got stuck in a conversation with some wealthy people and one woman asked me how my investments were doing. I replied that both avocadoes should be ripe by tomorrow.” Food prices are an everyday reminder of inflation on the spending side of the equ... (read more) Mortgage Rates 30 Yr. Fixed Rate 6.38% -0.06% Rate Change Points Mortgage News Daily 30 Yr. Fixed 6.38% -0.06 0.00 15 Yr. Fixed 5.87% -0.06 0.00 30 Yr. FHA 5.70% -0.02 0.00 30 Yr. Jumbo 5.95% 0.00 0.00 5/1 ARM 6.45% -0.10 0.00 30 Yr. VA 5.75% 0.00 0.00 Updates Daily - Last Update: 3/24 15 Yr. Fixed Rate 5.87% -0.06% Rate Change Points Freddie Mac 30 Yr. Fixed 6.42% -0.18 0.00 15 Yr. Fixed 5.68% -0.22 0.00 Updates Weekly - Last Update: 3/23 Rate Change Points Mortgage Bankers Assoc. 30 Yr. Fixed 6.48% -0.23 0.66 15 Yr. Fixed 6.02% -0.12 0.60 30 Yr. Jumbo 6.30% -0.09 0.55 Updates Weekly - Last Update: 3/22 MBS / Treasuries UMBS 30YR 5.0 100.05 +0.06 Price / Yield Change MBS UMBS 5.0 100.05 +0.06 UMBS 5.5 101.19 +0.08 GNMA 5.0 100.45 +0.08 GNMA 5.5 101.39 +0.08 Pricing as of: 3/24 5:31PM EST 10 Year US Treasury 3.3800 -0.0340 Price / Yield Change US Treasury 2 YR Treasury 3.773 -0.052 5 YR Treasury 3.411 -0.020 7 YR Treasury 3.408 -0.028 10 YR Treasury 3.380 -0.034 30 YR Treasury 3.650 -0.031 Pricing as of: 3/24 5:31PM EST Latest Video St. Louis Fed president says the probability of global financial crisis ver... 10-year, 2-year yields fall to lowest levels since September The Week That Was: Fed bumps rates up 25 bps Durable goods orders fell 1% in February, more than expected Around the Web CNBC Deutsche Bank is not the next Credit Suisse, analysts say as panic spreads Calculated Risk Blog More Good News for Homebuilders Calculated Risk Blog Q1 GDP Tracking: Wide Range Calculated Risk Blog Final Look at Local Housing Markets in February The Basis Point Newly built home prices $438,200 in March 2023. Can you afford this? Calculated Risk Blog Realtor.com Reports Weekly Active Inventory Up 59% YoY; New Listings Down 20% YoY CNBC Treasury yields decline as investors assess economic outlook, Fed policy path Calculated Risk Blog New Home Sales at 640,000 Annual Rate in February; New Home Average Prices Down 4.5% Year-over-year Calculated Risk Blog Black Knight: Mortgage Delinquencies Increased Slightly in February American Bankers Assoc. ABA Report: Farm Bank Lending Increased to $103.1 Billion in2022 CNBC Europe's leaders battle banking crisis as market rout hangs over Brussels summit Calculated Risk Blog Hotels: Occupancy Rate Down 2.5% Compared to Same Week in 2019 CNBC European stock markets set to open lower after U.S., UK central banks confirm rate hikes

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