ARCHIVED BLOG POSTS
2011
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For the first time in many months we saw signs of some improvement in the economy today. The Chicago PMI, which is a survey of purchasing managers, indicated that they are buying raw materials in anticipation of future production. The number came in at a strong 61 versus the 51 that was expecte...
06/30/2011
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Mortgage backed securities (MBS) closed down 22 basis points today at 99.97 having fallen through support at the all important 200 day moving average. If the bonds remain below this level, they have a long way to fall prior to hitting solid support. The recent legislation passed by the Greek le...
06/30/2011
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Stocks rose for a third consecutive day today as the Dow Jones average pushed well above the 12,000 mark. The Greek government finally passed the austerity measure necessary to get them the $15 billion they despearately need to avoid defaulting. In addition poor Treasury auctions weighed furhte...
06/29/2011
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Mortgage backed securities (MBS) closed down 22 basis points today at 100.22 having fallen through support at the 50 day moving average and come to rest just above the 200 day moving average. The bond is in a precarious position. Although it is a good sign that it did not fall through the 200 d...
06/29/2011
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Stocks had their second consecutive strong advance today as Greece awaited its important austerity vote with strikes and violence. A surprise from the housing market showed an increase in property values across a broad spectrum of states including some of the hardest hit in the ongoing crisis. ...
06/28/2011
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Mortgage backed securities (MBS) closed down 53 basis points at 100.44 having crashed through support offered by the 25 day moving average now 39 basis points above. Optimism about tomorrow's vote on the Greek austerity bill set MBS bonds off on a tortuous downward path this morning. When a sec...
06/28/2011
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With the safe haven trade stalled temporarily as the world waits to see if the Greek Parliament can pass stern austerity measure, the Greek populace is fighting thme every inch of the way. In light of this break in the action, stocks had a rare positive day after seven of the last eight weeks re...
06/27/2011
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Mortgage backed securities (MBS) closed down 28 basis points today at 100.97 today having experienced a rare down day after three consecutive advances. Hotter than expected inflation results from the Personal Consumption Expenditure Survey, the Fed's favorite measure of inflation, sent MBS bonds...
06/27/2011
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Mortgage backed securities (MBS) closed up 38 basis points today at 101.25 having risen to touch resistance at 101.34 before bouncing back down. Another week of new unemployment claims over 400,000 was just the bad news bond traders needed in order to sent MBS bonds higher once again. It seems ...
06/23/2011
To say stocks did not have a good day, would be the hyperbole of understatement. Early news of surprisngly low Chinese manufacturing began a downward trend before the market opened. Then oil was down and unemployment claims came in high once again. The Dow was down over 200 points and the S & ...
06/23/2011
