MBS MID-DAY: Positive Momentum After NFP, Negative Turn After ISM

Posted To: MBS CommentaryMBS Live : MBS Morning Market Summary Please note the timestamp on the pricing snapshot below. Bond markets have sold off a fair amount since then, breaking through the 103-16 pivot in MBS, now down toe 103-12 and the 1.97 pivot in 10yr yields, now up to 1.9888. Things appear to be leveling off at these levels, but theyre noticeably weaker from the initial rally that followed NFP this morning. Its unclear how much the ISM numbers actually justified the ensuing weakness, or if they merely pushed bond markets off a ledge of indecision. Either way, momentum shifted negatively and reprices for the worse have been streaming in. MBS Pricing Snapshot Pricing shown below is delayed, please note the timestamp at the bottom. Real time pricing is available via MBS Live. FNMA 3.0 103-17 : +0-09 FNMA...(read more)Forward this article via email:  Send a copy of this story to someone you know that may want to read it.http://www.mortgagenewsdaily.com/mortgage_rates/blog/294075.aspx @ uwad.com