Jack's Morning Update

Where R Rates / MBS Market Update ROLLER COASTER RATES Lots of red yesterday and lots of green today. I will take the green and call yesterday a bad day. Yesterday we had a swing of 44 BPS and today already we have had a swing of 43 BPS. That…

Where R Rates / MBS Market Update INFLATION # HURTS RATES Well folks, inflation rears it’s ugly head again this morning with CPI (Consumer Price Index) inflation number coming out much hotter than expected. The overall inflation rate came in year over year at 3% vs the expected 2.9% which…

Where R Rates / MBS Market Update POWELL’S BIG TALK TODAY We are getting hit with a bit of red this morning as we start today in anticipation of Fed Chair Powell’s testimony. The uncertainty right before a big news day many times results in investors backing off to see…

Where R Rates / MBS Market Update NICE RATE MORNING After a losing week last week we are looking pretty good out of the gates this morning. I wish I could tell you why we are up 9 TO 16 BPS but there is no reports that came out the morning.…

Where R Rates / MBS Market Update BESSENT SPEAKS We had a good day yesterday folks. Lots of small bond friendly news going our way. Lower ISM (Supply Management for Manufacturing) came in which helped a bit. ADP came in lower than expected. The tariff uncertainty of how that is…

Where R Rates / MBS Market Update GLOBAL NEWS HITS Check out the 10 Yr Note this morning. Down 10 points to 4.41. That is a very big change. That would typically result in better rates across the board. As you can see conventional did get better and Govt has…

Where R Rates / MBS Market Update TARIFFS AND JOBS We are starting down a little bit this morning due to global news. The Tariffs are beginning to take effect with Mexico and Canada and then the 10% tariff put on China on certain goods which is causing a little…

Where R Rates / MBS Market Update MBS UPDATE Last week was a big week for reports and news and Fed Meetings. We came through it pretty much unchanged from Monday open to Friday close. Where you started the week is where we will start this week as well. This…

Where R Rates / MBS Market Update THE FED SPOKE Yesterday the markets reacted by not reacting yesterday to the results of the Fed Meeting.  As expected there was no Fed Rate change and we do not expect to see any change in the near future. Powell stated that unemployment…

Where R Rates / MBS Market Update IT’S FED DAY We are all looking forward to the comments that Chairman Powell has at his press conference this afternoon following the 1 page summary of what was discussed the last two days at this months Fed meeting. Although, the Fed rate…

Where R Rates / MBS Market Update CHINESE HELPS RATES Today is my last day of corporate meetings and my morning update will continue tomorrow morning with morning MBS updates at the normal time. We had a good day in bonds yesterday. Part of it is being driven by technical…

Where R Rates / MBS Market Update BIG NEWS WEEK You are receiving this email earlier than normal as I am in corporate meetings all day today and tomorrow so I can tell you what happened in the MBS previously and what is to come. Just not where we are…