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MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
US DATA
- Slight support for MBA mortgage applications with the composite rising 2.2% (similar gains in refis and purchases) as the 30Y mortgage rate followed the Freddie Mac rate and fell 23bps last week to 6.67%, down from an Oct 21 high of 7.16%.
- Application levels are clearly still historically depressed (close to lows through 2010-15 - see chart) but the increase reflects a quick feedthrough from the recent easing in financial conditions as long-end Treasury yields come off cycle highs, something the Fed will want to limit to help anchor long-term inflation expectations.
MBA mortgage rate (white), 10Y Tsy yields (pink) and MBA purchase applications (green)Source: Bloomberg
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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