Daily Analysis (All time ET)
| Morning Analysis: 10-06-08 09:45AM |
| MBS prices are up +15/32 (FNMA 30-yr 5.5 at 100.26), which is about 24/32 higher than Friday at this time. The 30-yr fixed FNMA required net yield (60 day) is now at 5.71%, down from 5.98% on Friday. Congress passed the rescue plan on Friday, but the credit troubles around the world got worse over the weekend, and global stock markets fell sharply. Action is still needed to help the banks in Europe, in particular. The resulting flight to safety helped MBS markets this morning. The Dow is down 250 points. No economic data will be released today. |
| 10-06-08 09:45AM | 30yr 5.5 | 15yr 5.0 | ||||||||||||||||||||||||
| FNMA (Oct) |
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| Afternoon Analysis: 10-03-08 04:00PM |
| MBS prices are unchanged (FNMA 30-yr 5.5 at 100.07), above the 9:45 et pricing level of -5/32. It was a volatile session, and MBS markets reached a low of -11/32. The rescue plan passed in the House. The stock market fell sharply after the vote, while MBS markets rose a little. The Employment report was weaker than expected, and ISM Services came in on target. The Dow lost 160 points. For the week, MBS markets gained about 6/32. The Economic Calendar will be very light next week. The minutes from the September Fed meeting will be released on Tuesday. This detailed record of the discussion between Fed officials often provides additional insight into the reasoning behind the Fed statement. The Pending Home Sales index, a leading indicator for the housing market, will come out on Wednesday. Import Prices and the Trade Balance are scheduled for Friday, but these reports have not been market movers recently. In addition, fresh news about the condition of the credit markets will be very important next week. |
| 10-03-08 04:00PM | 30yr 5.5 | 15yr 5.0 | ||||||||||||||||||||||||
| FNMA (Oct) |
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Money Rates - Monthly Averages
| ARM Indices | Month ending Aug 31 | Month ending Jul 31 |
| 1 Month LIBOR | 2.470% | 2.460% |
| 3 month LIBOR | 2.800% | 2.790% |
| 6 month LIBOR | 3.110% | 3.120% |
| 1yr LIBOR | 3.240% | 3.280% |
| 1yr CMT | 2.180% | 2.280% |
| 1yr MTA | 2.660% | 2.850% |
| COFI | n/a | 2.700% |
| Other Indices | Month ending 9-30 | Month ending 8-29 |
| FNMA RNY | 5.840% | 6.110% |
Money Rates - Weekly Average Rates
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Economic Events
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Week of 10-06-08 - 10-10-08
 Market Moving Indicator |
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| Day | Date | EDT | Release | For | Actual | Consensus | Prior | Revised From | |
| Tuesday | 10/07 | 2:00PM | FOMC Minutes | September | |||||
| Wednesday | 10/08 | 10:00AM | Pending Home Sales Index | August | -1.0% | -3.2% | |||
| Thursday | 10/09 | 8:30AM | Jobless Claims | October | 475K | 497K | |||
| Friday | 10/10 | 8:30AM | Import Prices ex-oil | September | NA | -0.3% | |||
| Friday | 10/10 | 8:30AM | Trade Balance | August | -$60.0B | -$62.2B | |||
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