For a week with so much on the calendar and so much at stake, today got things off to a fairly slow start. That’s not entirely surprising, given that it had the least going for it in terms of scheduled events. It also happened to be a Monday in the summertime.
The overnight trading session made things look even more uneventful, with no meaningful movement during Asian market hours. Things changed in Europe, however, with a series of state-level inflation reports (especially in Germany) serving to push European yields higher. Anticipation for a hike hike from the Bank of England also played a part.
Bonds settled down during domestic hours, but not before edging to the highest yields in more than a month (by a few thousands of a percentage point, to be fair). The 9:30am NYSE open brought some buying demand for bonds and selling for stocks. Fannie 4.0 MBS ended the day down 2/32nds (.06) at 101-16 (101.50).
MBS Pricing Snapshot
Pricing shown below is delayed, please note the timestamp at the bottom. Real time pricing is available via MBS Live.
101-16 : -0-02
2.9747 : +0.0127
|Pricing as of 7/30/18 6:02PMEST|
Today’s Reprice Alerts and Updates
10:37AM : Bonds Get Some Help After Europe-Inspired Weakness
MBS Live Chat Highlights
Matthew Graham : “yeah, no difference. She’s not going to sway the committee”
Chris Stevens : “MG- With hawkish Esther George now having a vote do you think it makes a difference or are most voting members in the camp of 2 more hikes this year so basically she is just one of the crowd now?”