Back From Break, But Still Waiting For Breakout


The bond market theme heading into the Thanksgiving break was “waiting for a breakout.”

The bond market theme heading out of Thanksgiving break is still “waiting for a breakout.”

In other words, not much has changed, except for the relative deluge of volume and participation underlying today’s super narrow range.  That much is to-be-expected the first day back from what is essentially a 4-day weekend.  Even then, it wasn’t an incredibly active session by normal standards.

Bonds traded in fits and starts, with most of the volatility (again, this is occurring inside a narrow range) following the NYSE opening bell.  New Home Sales data was stronger than expected, but not a huge or long-lasting market mover.  Early strength turned into weakness between 9:40 and 10:30am ET.  Bonds then rallied back into just-barely-positive territory by noon and held flat for the rest of the day.

MBS Pricing Snapshot

Pricing shown below is delayed, please note the timestamp at the bottom. Real time pricing is available via MBS Live.


FNMA 3.5

102-27 : +0-02


10 YR

2.3312 : -0.0088

Pricing as of 11/27/17 5:16PMEST

Today’s Reprice Alerts and Updates

10:30AM  :  Bonds Near Unchanged Levels After Morning Data

MBS Live Chat Highlights

Hugh W. Page  :  “We take Home Cost/Value X 90% less $50,000 Homestead Exemption X Millage Rate to get Ad Valorem Taxes and you add Non Ad Valorem to that number to get estimated taxes. How’s that for simplicity?”

Sung Kim  :  “no, we don’t use that term “mill” rate in the big urban cities with high speed internet”

Original Source