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2010
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Stock traders used today as an opportunity to take profits after September's sstrong showing. A couple of downgrades of Dow components' stocks by major tradinig banks helped the selloff. Deutsche Bank reduced Alcoa, the aluminum producer, from hold to sell while Goldman Sachs adjusted Microsoft...
10/04/2010
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Mortgage backed securities (MBS) closed up 31 basis points today at 101.03 finally breaking through a tough resistance level at the 101.00 mark but still resting below the other half of the double resistance at 101.34. An improvement of 4.3% in pending home sales assisted the move ahead. The 30...
10/04/2010
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Stock futures pointed upward this morning on positive manufacturing news from China and good results on personal income and spending. The PCE (Personal Consumer Expenditure Index), the Fed's favorite measure of inflation, showed results within the Fed's tolerance. The PCE is different from othe...
10/01/2010
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Mortgage backed securities closed even today at 100.66 after trading in a 53 basis point range throughout the day. MBS bonds opened lower after good news was released about China's production cpapbilities. Remember that normally bonds thrive on bad news and eschew good news. On the domestic fr...
10/01/2010
