Posted To: MBS Commentary
The S&P closed at its lowest level since April 2014 today and intraday prices were at their lowest levels since February 2014. If yesterday's $28/barrel oil prices didn't sound low enough, they nearly broke below $26/barrel today. In short, global risk markets continued melting down in grand fashion and bond markets continued picking up the pieces. Even after equities markets staged a fairly serious attempt at bouncing, stocks remained in negative territory on the day and bond markets retained most of their overnight gains . After coming into the day at 101-18, Fannie 3.0s went out the door at 101-16, more than a 3/8th point gain on the day. 10yr yields ended 6.8bps lower at 1.988. With Housing Starts coming in at 1.149 vs 1.20 forecasts and CPI missing estimates by 0.1, we can't...(read more)Forward this article via email: Send a copy of this story to someone you know that may want to read it.
from Mortgage News Daily http://ift.tt/1WvvkTk
No comments:
Post a Comment