MBS MID-DAY: Mostly Sideways After Inconsequential Data and Yellen's Round 2

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Ah round 2!  After a relatively civil and infinitely more relevant chat with the Senate Banking Committee, Fed Chair Yellen is now enduring what can only be described as a nauseating barrage of political grandstanding.  Making things all the more frustrating is the fact that there are a few good questions and collegial attitudes interspersed with the reckless stupidity. 

When congresspeople start talking out of orifices other than their mouths, markets tend to tune it out.  Today is no different.  There hasn't been any salient market reaction to anything said in the Yellen testimony so far today.  It's possible that could change, but certainly not guaranteed.  The only guarantee is that those who stick around to listen to the Q&A will just be angrier and sadder than they are now.

The morning's economic data didn't do much to move markets either, though if anything, it was slightly negative for bond markets.  Those negative impacts have been more than offset by weakness in stocks.  That's not to say that stocks and bonds must invariably be joined at the hip, but amid a lack of other forms of inspiration, bonds have been taking some cues from stocks as the latter responds to earnings releases.

Pricing shown below is delayed, please note the timestamp at the bottom. Real time pricing is available via MBS Live.Pricing as of 7/16/14 12:11PMEST Morning Reprice Alerts and Updates 11:10AM  :  Back to Unchanged Levels as Stocks Slide 9:05AM  :  Bond Markets Slightly Weaker After Neutral Overnight Session Dave Pressel  :  "good point Alan -- that happened to someone I know here in NJ -- 200K loan with BOA and the entire balance got dismissed. And here I am making all of my payments 7 days early on my mortgages....sheesh" Alan Craft  :  "Some asked for mods and were told by the banks to fall behind and then they robo foreclosed on them" Jason Zimmer  :  "robosigned or not, if you didn't pay your bills, does it matter?" Alan Craft  :  "I like the part about money going to consumers. Especially the victims of robosigning and the like" Matthew Graham  :  "RTRS - BANK OF AMERICA IS OFFERING $13 BILLION, TO BE PAID IN BOTH CASH AND CONSUMER RELIEF, BUT DOJ IS ASKING FOR BILLIONS MORE - WSJ CITING SOURCES BAC.N" Matthew Graham  :  "RTRS- U.S. JULY NAHB HOUSING MARKET INDEX 53 (CONSENSUS 50) VERSUS 49 IN JUNE" Matthew Graham  :  "RTRS - U.S. JUNE INDUSTRIAL OUTPUT +0.2 PCT (CONSENSUS +0.4 PCT) VS MAY +0.5 PCT (PREV +0.6 PCT)" Matthew Graham  :  "RTRS - U.S. JUNE PPI FOR FINAL DEMAND +0.4 PCT (CONSENSUS +0.2 PCT) VS MAY -0.2 PCT" Sung Kim  :  ""None of the recent movement in mortgage rates could be considered 'fast-paced,'"noted Matthew Graham of Mortgage News Daily." Sung Kim  :  "Mortgage volume tanks; Jamie Dimon bashes the FHA" Discuss the MBS and Mortgage Markets on Our Streaming Dashboard

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MBS MID-DAY: Mostly Sideways After Inconsequential Data and Yellen's Round 2

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Gain access to the most accurate real-time back month TBA indications from Thomson Reuters and Tradeweb. LEARN MORE MBS MID-DAY: Mostly Sideways After Inconsequential Data and Yellen's Round 2

Ah round 2!  After a relatively civil and infinitely more relevant chat with the Senate Banking Committee, Fed Chair Yellen is now enduring what can only be described as a nauseating barrage of political grandstanding.  Making things all the more frustrating is the fact that there are a few good questions and collegial attitudes interspersed with the reckless stupidity. 

When congresspeople start talking out of orifices other than their mouths, markets tend to tune it out.  Today is no different.  There hasn't been any salient market reaction to anything said in the Yellen testimony so far today.  It's possible that could change, but certainly not guaranteed.  The only guarantee is that those who stick around to listen to the Q&A will just be angrier and sadder than they are now.

The morning's economic data didn't do much to move markets either, though if anything, it was slightly negative for bond markets.  Those negative impacts have been more than offset by weakness in stocks.  That's not to say that stocks and bonds must invariably be joined at the hip, but amid a lack of other forms of inspiration, bonds have been taking some cues from stocks as the latter responds to earnings releases.

Pricing shown below is delayed, please note the timestamp at the bottom. Real time pricing is available via MBS Live.Pricing as of 7/16/14 12:11PMEST Morning Reprice Alerts and Updates 11:10AM  :  Back to Unchanged Levels as Stocks Slide 9:05AM  :  Bond Markets Slightly Weaker After Neutral Overnight Session Dave Pressel  :  "good point Alan -- that happened to someone I know here in NJ -- 200K loan with BOA and the entire balance got dismissed. And here I am making all of my payments 7 days early on my mortgages....sheesh" Alan Craft  :  "Some asked for mods and were told by the banks to fall behind and then they robo foreclosed on them" Jason Zimmer  :  "robosigned or not, if you didn't pay your bills, does it matter?" Alan Craft  :  "I like the part about money going to consumers. Especially the victims of robosigning and the like" Matthew Graham  :  "RTRS - BANK OF AMERICA IS OFFERING $13 BILLION, TO BE PAID IN BOTH CASH AND CONSUMER RELIEF, BUT DOJ IS ASKING FOR BILLIONS MORE - WSJ CITING SOURCES BAC.N" Matthew Graham  :  "RTRS- U.S. JULY NAHB HOUSING MARKET INDEX 53 (CONSENSUS 50) VERSUS 49 IN JUNE" Matthew Graham  :  "RTRS - U.S. JUNE INDUSTRIAL OUTPUT +0.2 PCT (CONSENSUS +0.4 PCT) VS MAY +0.5 PCT (PREV +0.6 PCT)" Matthew Graham  :  "RTRS - U.S. JUNE PPI FOR FINAL DEMAND +0.4 PCT (CONSENSUS +0.2 PCT) VS MAY -0.2 PCT" Sung Kim  :  ""None of the recent movement in mortgage rates could be considered 'fast-paced,'"noted Matthew Graham of Mortgage News Daily." Sung Kim  :  "Mortgage volume tanks; Jamie Dimon bashes the FHA" Discuss the MBS and Mortgage Markets on Our Streaming Dashboard

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MBS MID-DAY: Mostly Sideways After Inconsequential Data and Yellen's Round 2

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Accéder aux indications plus précises en temps réel arrière mois TBA de Thomson Reuters et Tradeweb. En savoir plus MBS mi-journée : Principalement sur le côté après les données sans conséquence et de Yellen tour 2

Ah tour 2 !  Après une discussion relativement civile et infiniment plus pertinente avec la Commission bancaire du Sénat, Fed chaise Yellen est maintenant durable ce qui ne peut être décrit comme un nauséeuses barrage d'épater la Galerie politique.  Rendre les choses plus frustrant est le fait qu'il y a quelques bonnes questions et attitudes collégiales entrecoupées de la stupidité téméraire.

Lorsque congresspeople commence à parler d'orifices autres que leurs bouches, les marchés ont tendance à tune.  Aujourd'hui n'est pas différent.  Il n'y a aucune réaction du marché saillant à rien dit jusqu'à aujourd'hui dans le témoignage de Yellen.  Il est possible qui pourrait changer, mais certainement pas garanti.  Le seul garantir , c'est que ceux qui restez à l'écoute de le Q&A sera juste furieux et plus triste qu'ils le sont aujourd'hui.

Données économiques de la matinée n'a pas fait beaucoup pour déplacer les marchés non plus, mais si quelque chose, c'était un peu négative pour les marchés obligataires.  Ces effets négatifs ont été plus que compensée par la faiblesse des stocks.  Cela ne veut ne pas pour dire que les actions et des obligations doivent invariablement être rejoint à la hanche, mais au milieu de l'absence d'autres formes d'inspiration, obligations ont été prendre quelques repères à partir de stocks comme le dernier répond aux communiqués de gains.

Prix indiqué ci-dessous sont retardée, notez l'horodatage au fond. Tarification en temps réel est disponible par l'intermédiaire de MBS Live.Pricing à compter du 16/07/14 12:11PMEST matin recalculer les alertes et les mises à jour 11:10 : retour à des niveaux inchangés comme Stocks Slide 09:05 : Marchés obligataires légèrement plus faible après neutre nuit Session Dave Pressel : « bon point Alan--qui s'est passé à quelqu'un je sais ici dans le New Jersey--prêt de 200 K avec BOA et la totalité du solde a rejeté. Et ici je fais tous mes versements 7 jours tôt sur mon hypothèque... sheesh " Alan Craft :" Certains mods ont réclamé et a été racontée par les banques à se laisser distancer, puis ils robo saisis sur eux " Jason Zimmer :" robosigned ou pas, si vous ne faites pas de vos factures, est-ce important? " Alan Craft : « J'aime la partie de l'argent va aux consommateurs. En particulier, les victimes de robosigning et autres" Matthew Graham : « RTRS - BANK OF AMERICA offre $ 13 milliards, qui sera payé en RELIEF les liquidités et les consommateurs, mais le ministère de la justice réclame des milliards plus - Wall Street Journal, CITANT des SOURCES BAC.N" Matthew Graham :" RTRS - US juillet marché de l'immobilier NAHB INDEX 53 (CONSENSUS 50) contre 49 IN juin " Matthew Graham :" RTRS - U.S. INDUSTRIAL juin sortie + 0.2 PCT (CONSENSUS + 0.4 PCT) VS peut + 0,5 PCT (PCT PREV + 0,6) " Matthew Graham : « RTRS - U.S. JUNE PPI FOR FINAL demande + 0.4 PCT (PCT CONSENSUS + 0,2) VS mai -0,2 PCT" Sung Kim : "" aucune autre du mouvement récent taux hypothécaires pourrait être considérée ' fast-paced,' « noté Matthew Graham d'hypothèque News quotidienne. » Kim Sung : « Mortgage réservoirs de volume ; Jamie Dimon fêtes la FHA"discuter des MBS et des marchés du crédit hypothécaire sur notre tableau de bord en Streaming

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