Mortgage Industry News
Daily Report | 10 March 2010
By Roger SlaalienCurrent Trend Direction: Sideways Risks favor: Locking Bias Current Price of FNMA 4.5% Bond: $100.78, -22bp Reminder: Yesterday after the close of trading, Mortgage Bonds had their monthly coupon rollover. The effect of the rollover was -34bp points for the 4.5% coupon. Every month the coupon “rolls over”. When this happens, this month’s coupon is closed out and all [...]
Daily Update | After Market Close 9 March 2010
By Roger SlaalienMortgage bonds had their monthly coupon rollover after the close of trading today. The effect of this rollover was minus 34bp points for the 4.5% coupon. Therefore, while the bond quote for today shows minus 19bp, the minus 34bp rollover adjustment must be accounted for. This means that pricing actually closed up 15bp on the day. What is [...]
Daily Report | 9 March 2010
By Roger SlaalienCurrent Trend Direction: Sideways Risks favor: Carefully Floating Current Price of FNMA 4.5% Bond: $101.31, +12bp Today is a bit of a slow news day so far, with no economic reports in store although Cisco will be making an announcement later this morning that they say will change the internet forever, so it will be exciting to see [...]
Weekly Report | Workin Nine To Five
By Roger Slaalien“WORKIN’ NINE TO FIVE – WHAT A WAY TO MAKE A LIVIN’…” Dolly Parton. But full time employment is nothing to gripe about these days – last week’s Jobs Report showed that there are millions of people who would love to be working full time…or even working at all. The labor market continues to struggle, though it [...]
Daily Update | 9 March 2010
By Roger SlaalienOver the past couple weeks, Mortgage Bonds have been able to remain above a nice floor of support at the 100-day Moving Average. During that time, fears over Greece defaulting on their debts have left investors feeling uneasy, and many of them looked to the safe haven of US Bonds. But with the situation in Greece [...]