Jack's Morning Update

MAKE NOVEMBER A MONTH TO REMEMBER I send a version of this email on the first business day of every month in hopes to help kickstart a great month for you. MBS UPDATE FIRST THOUGHThis morning we are up 6 to 12 BPS depending on the product and where you are…

Where R Rates / MBS Market Update MARKETS FLAT AMIDST REPORTS The big number for today was PCE (Personal Consumption Expenditures) which is a major inflation gauge, and it came in as expected for month to month as well as year over year. 0% month over month and 2.6% year…

Where R Rates / MBS Market Update MARKET CHANGING WEEK As you know I like to look at the big picture from a week-to-week perspective. From Monay open to Friday close last week you can see below we had a pretty good week overall. We were up 31 to 56…

Where R Rates / MBS Market Update UP AND DOWN WE GO Sorry for the delay this morning. Was in meetings : )  The tale of two times of the day. We started out the day super strong yesterday and ended the day substantially down from the highs of the…

Where R Rates / MBS Market Update GREAT DAY FOR RATES News continues to move the markets. With such big changes come big movements in the markets when they do happen. President Trump is easing his stance on Fed Chair Powell n tariff concerns are easing a bit as well.…

Where R Rates / MBS Market Update MBS TO WATCH Not a good day in the markets yesterday. The name of the game continues to be uncertainty. Uncertainty usually means good things for mortgage bonds and mortgage rates. Unless it has the potential to cause inflation or impact bond demand.…

Where R Rates / MBS Market Update PREZ VS FED We are starting out the day losing much of what we gained from Monday open til the markets closed last Thursday for Good Friday. We have a new issue revealing itself that is outside of the tariff situation. President Trump…

Where R Rates / MBS Market Update STEADY AT THE MOMENT So far it has been a good week for bonds. We may be down slightly today but nothing that would change rates from yesterdays close. The bond market closes at 2 PM today and then the markets are closed…

Where R Rates / MBS Market Update MARKETS WAITING Two green days in a row thus far. I will take it. Unfortunately, we have had two red days in a row on the stock market front. Although they are not big hits to the market which is a sign of…

Where R Rates / MBS Market Update CALM AMIDST THE STORM As we all know the name of the game in the markets right now is tariffs. That means the markets are going to move based on what happens which also means nobody can predict what you should or should…

Where R Rates / MBS Market Update GREEN ON THE SCREEN Wheweee, what a week we had last week. In the conventional 5.5% coupon part of the rate sheet, we saw a drop of 194 BPS from Monday open to Friday close. By the way, Friday could have been a…

Where R Rates / MBS Market Update RATE RELIEF THIS MORNING Wow! What a day yesterday. It will be one to be remembered for a long time. At one point we were down 100 bps in mortgage bonds and recovered to only being down 22. I say see that red…