Wealth of Women

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Sometimes, at 4AM PST, my cat disdainfully watches CNBC while I work on the finishing touches in the daily commentary. Cats spend an inordinate amount of time being disdainful, but my cat has the perfect outlook while watching, which is to remember that much of the show is slanted toward entertaining, which can be enjoyable but much of which detracts from the substantive economic news. (For one thing, they're always talking about "economic uncertainty" - heck, there is always uncertainty - it's the future!) Paul Jacob with Banc of Manhattan put out a good piece late last week talking about the markets which is not so uncertain and sums things up. "This is one of those periods where the bond market feels a lot more volatile than it really is. The range since November 1 has been 1.80-2.09% on...()

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MBS Live : MBS MID-DAY Open MBS Live Dashboard FNMA 3.5 103-18 : +0-05 FNMA 4.0 105-11 : +0-03 FNMA 4.5 106-22 : +0-02 FNMA 5.0 108-01 : +0-02 GNMA 3.5 105-04 : +0-05 GNMA 4.0 107-26 : +0-05 GNMA 4.5 109-09 : +0-03 GNMA 5.0 111-06 : +0-06 FHLMC 3.5 103-10 : +0-05 FHLMC 4.0 104-31 : +0-03 FHLMC 4.5 106-06 : +0-03 FHLMC 5.0 107-23 : +0-01 Pricing as of 11:04 AM EST Morning Market Updates A recap of MBS Market Updates provided by MND Analysts and streamed live to the MBS Live Dashboard . 9:59AM : ALERT: MBS Pop Higher on Meeting Delay Rumors Greece had been slated to announce the terms of Private Sector Investors' involvement in the bailout. This was expected to follow Wednesday's Eurogroup meeting and to indicate a hefty 70% haircut. Rumors that this announcement will not only be delayed...()

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MBS and Treasuries continue to trade at significantly improved levels from this morning . Bond markets put in their first major bounce shortly after the domestic open on rumors that the private sector announcement that was set to follow Wednesday's Eurogroup meeting would be delayed. Since then, limited European headlines (none really...) and non-existent economic data left today's scheduled Fed buying as the primary market mover. Even though today's Fed buying was in the longest maturities, it provided an excuse to run the ball back up the field after overnight weakness. Volume has been quite light as markets are no doubt more interested in Wednesday's Greece-related headlines than those seen yesterday and this morning. 10's moved almost precisely to Friday's lowest yields and held there through...()

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In a strongly worded statement on behalf of the American Association of Mortgage Investors (AMI), Jonathan Lieberman, Managing Director of Angelo, Gordon & Company, criticized the recent settlement agreement over alleged mortgage servicing and foreclosure processing abuses. Lieberman, told the Association's bondholders in a conference call that the settlement, reached last week between five major banks and their servicing subsidiaries, the Departments of Justice and Health Education and Welfare, and 49 of the 50 states' attorneys general that, "Current press reports tell a story of regulators imposing penalties not only on the bad actors but also on Americans' investors, pension funds, and retirees," and that "the rush to finalize a flawed and opaque settlement smells funny. Members of...()