There was a problem returning the RSS feed.
There was a problem returning the RSS feed.

:

Sharply Weaker Again. Half Oil. Half PPI

9/10/2026 8:18 AM

It"s been a rough couple of days for the bond market. Yesterday, it was Bessent and the reaction to the Treasury buyback announcement. Today it is an overnight surge in oil prices and a lackluster reaction to the Producer Price Index (PPI). PPI doesn"t tend to move markets as much as CPI (due out tomorrow), but it certainly can for two reasons: on ...Read More

Bonds to Bessent: Challenge Accepted

9/9/2026 2:52 PM

Bonds to Bessent: Challenge Accepted When the Yellen Treasury rolled out the buyback program in 2023/2024, they were careful to refer to it as strictly focused on liquidity and cash management. If they were secretly interested in influencing the yield curve, we"d never know. Contrast that to Bessent who spe...Read More

Mortgage Rates Jump After New Treasury Buyback Announcement

9/9/2026 2:07 PM

What do mortgage rates have to do with Treasuries? Quite a lot, actually. U.S. Treasuries are the bills and bonds issued by the government. In addition to financing government spending, they are also the lifeblood of the financial system. Due to that central role, their liquidity, the immense size of the market, and because they"re considered to be...Read More

Correspondent, Signing, Multifamily Tools; STRATMOR Tech Survey; Capital Markets; Rocket"s Loan Limits

9/9/2026 10:05 AM

What should we talk about today? Besides TSA bringing back gate access, here’s a leading IMB exec and his wife putting their Florida home on the market for “a pretty penny.” There’s talk at conferences, not only about things being slower than expected in 2026 and potentially even slower in 2027, but also of LO and branch movement. It reminds me of ...Read More

Are Bonds Fighting Oil Implications Thanks to Buyback Hopes?

9/9/2026 9:30 AM

Not much is going on in terms of scheduled economic events until Thursday and Friday"s PPI and CPI reports respectively. Those could be very big deals as some investors think the results will determine "hike vs hold" at next week"s Fed meeting. Today"s biggest to-do is probably the 11am announcement of the next round of Treasury buybacks. Treasury ...Read More

Early Strength Gives Way to Steady Selling

9/8/2026 2:48 PM

Early Strength Gives Way to Steady Selling Bonds started the day in fairly good shape with a rally at the open and a certain measure of defiance of another jump in fuel prices. The defiance quickly gave way to underperformance--a fact that suggests short-term tradeflow considerations for the bond market or ...Read More

Mortgage Rates Unchanged to Start The Week

9/8/2026 2:09 PM

Top tier 30yr fixed mortgage rates started the week right where they were on Friday for the average lender. At 6.89%, we"re just a hair below the highest mark since June 2025. In general, rates have been increasing steadily since the Iran war ceasefire ended with the uptick frequently correlating with higher fuel prices. Today"s "unchanged" rates ...Read More

CRA Sourcing, Correspondent, Internal Audit, AI Content Tools; Pulte, Credit Scores, and Social Media

9/8/2026 10:03 AM

Many years ago, it seemed like people bragged about how late they stayed up at conferences. Now they brag about how early they went sleep. Today I head to San Antonio, in the Great State of Texas, for a private mortgage event. We’ve plunged into the mortgage conference season, and there are dozens of them in the next month or two. I hope that some ...Read More

More Signs of Resilience But Still Tuned-In to Oil

9/8/2026 8:46 AM

To be sure, bonds are still very tuned-in to oil price movement with a high level of moment-to-moment correlation. That dynamic has seen yields trade both higher and lower so far today with most of the "lower" happening between 8:20 and 9:10am. Since then, both yields and oil are back on the rise. But the more interesting development is the slightl...Read More

Surprisingly Light Selling Given The Econ Data

9/4/2026 3:53 PM

Surprisingly Light Selling Given The Econ Data Today"s market reaction to the big beat in NFP (162k vs 56k) certainly stretches the paradigm of most market watchers who"ve been in the game for more than a few years, but this has been the reality over the past year or two. Relatively rapid changes in labor f...Read More

---