ARCHIVED BLOG POSTS
2010
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Stocks took another rollercoaster ride today soaring up close to 100 points before whushing down throughout the afternoon and closing up just 9 points. While mortgage bonds have fallen over 320 basis points during the last 6 session, stocks have kept their losses less dramatic. Retail Sales wer...
11/15/2010
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Mortgage backed securities (MBS) closed down a whopping 109 basis points today closing at 98.12 having briefly touched the 200 day moving average before falling well below it. The Fed's QE2 announcement continued to pummel mortgage bonds. The 30 year conforming rate was all the way up to 4.375%...
11/15/2010
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Wow! The G20 meeting in South Korea achieving virtually nothing, unless you count animosity. The Chinese are rumored to begin raising interest rates to avoid inflation. All this flew in the face of improved consumer confidence (maybe temporarily). Anyone who thinks this is not a global market...
11/12/2010
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Mortgage backed securities (MBS) closed down 78 basis points today at 99.22 having crashed through support at 99.38. MBS bonds have tumbled more than 200 basis points since the FED confirmed its intention to initiate quantitative easing (QE2). Today as they made their first purcchase of Treasur...
11/12/2010
Stock futures pointed lower despite a $2 billion profit shown by GM in its 3rd quarter. The former auto king may have improved the outlook for its impending IPO with the solid showing. Following form, stocks opened lower as the dollar continued its on again off again rally. Good news on intiti...
11/10/2010
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Mortgage backed securities (MBS) closed up 12 basis points at 100.00 having bounced around like a pin ball before coming to rest just below tough resistance posed by the 100 day moving average. During the day bonds traded in a 70 basis point range having gone all the way down to the next level o...
11/10/2010
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With no economic reports being released today, stocks took their lead from currency, commodity and world markets. Stock futures pointed toward a positive opening. Stocks actually opened lower, however, but were given a lift by Chevron's acquisition of Atlas Energy. The dollar remained strong t...
11/09/2010
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Mortgage backed securities (MBS) closed down 53 basis points today at 99.88 having fallen through support at the 100 day moving average and a minor support level below it. The next support level represented by the 200 day moving average is more than a hundred points below. That leaves a lot of ...
11/09/2010
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Stock futures suggested a lower open this morning after hitting two year highs last week. Traders did, in fact, do some early profit taking. The dollar was rallying keep both stocks and commodoties down. The exception to the rule was gold which closed at a record high $1,409. an ounce. By no...
11/08/2010
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Mortgage backed securities (MBS) closed down 25 basis points at 100.66 having fallen down to rest just over support offered by the 50 day moving average. After the market closed the monthly coupon rollover occurred, lowering the final day's price to 100.41. With no economic reports to influence...
11/08/2010
