MBS MID-DAY: Calm Morning For Bonds; CFPB's Double-edged Sword; 5/3rd Exiting Wholesale

By: Matthew Graham •

Domestic market movers have been in limited supply so far today.  Bond markets have paid some attention to tradeflows surrounding big corporate deals.  These are led today by another Verizon deal, this time "only" around $9bln (compared to over $45bln last time).

Global equities markets have also been making their highs and lows in conjunction with Treasury yields.  This isn't too surprising on a day where there isn't much inspiration from economic data or monetary policy.

That said, none of the movement has amounted to much for Treasuries or MBS.  At their best, Fannie 4.0s made it up to 104-10, but are back down to 104-07 currently--just 2 ticks higher on the day.

Non-market-moving highlights from the morning include a Wall Street Journal article on the double-edged sword of Disparate Impact for the CFPB.  And we're hearing that 5/3rd is exiting wholesale though there is no official statement yet.

MBS Pricing Snapshot
Pricing shown below is delayed, please note the timestamp at the bottom. Real time pricing is available via MBS Live.
MBS
FNMA 3.0
96-10 : +0-03
FNMA 3.5
100-21 : +0-03
FNMA 4.0
104-08 : +0-03
Treasuries
2 YR
0.3775 : +0.0045
10 YR
2.7861 : -0.0059
30 YR
3.7223 : -0.0017
Pricing as of 3/10/14 11:55AMEST
Morning Reprice Alerts and Updates
A recap of Alerts and Updates provided to MBS Live subscribers.
10:56AM  :  European Markets and Stocks Helping Bond Markets
9:22AM  :  Bond Markets Little Changed After Quiet Overnight Session
Live Chat Featured Comments
A recap of featured comments from the Live Discussion on the MBS Live Dashboard.
Christopher Stevens  :  "interesting Op-Ed in todays WSJ on CFPB having issues with disparate treatment in house. http://mndne.ws/Od2Ob6"
Christopher Stevens  :  "The last sentence is what I am paying most attention to and one that I hope the CFPB is as well. "The more important question is whether the bureau will reconsider its commitment to the disparate-impact doctrine after witnessing its flaws firsthand.""
Daniel Kramer  :  "anyone hear a rumor 5/3 exiting wholesale today?"