ARCHIVED BLOG POSTS
2011
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Mortgage backed securities (MBS) closed up a whopping 81 basis points today at 101.81 having rocketed through formidable resistance offered by the 50 day moving average and closed 30 points above it closing almost at its high for the day. As we have seen many times before, closing near or at the...
10/31/2011
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It's baaaaaaaaaaaaack! Concerns about the new European bailout program and its long term affability plagued markets today as European bourses sold off in numbers. U.S. markets were quick to follow, opening with early losses of 150 points. The Chicago Purchase Managers Index provided more negat...
10/31/2011
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Mortgage backed securities (MBS) closed up 50 basis points today at 101.00 having once again closed above what was briefly resistance offered by the close of September 16th. Resistance is now the 50 day moving average 51 basis points above. The Personal Consumption Expenditure index, the Fed's ...
10/28/2011
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In the wake of yesterday's huge rally, stock traders were left in a vacuum this morning and futures pointed slightly downward. Personal spending improved by .6% last month and stocks began with slight losses. The market stayed very close to the vest throughout the daycrossing from positive to n...
10/28/2011
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Mortgage backed securities (MBS) closed down 69 basis points today at 100.50 having fallen through support offered by the low of September 16th. MBS bonds expereienced a gap open downward this morning. With stocks rallying, bonds made a gallant effort to stay above support. The Treasury auctio...
10/27/2011
Well it may have been a long time in coming, but the European community finally came up with a plan that on the surface seems affable. The plan will cut Greek debt in half, have European banks raise capital and substantially increase the bailout funds. It sounds great but the proof will be in t...
10/27/2011
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Although the long awaited news about the potential fix for the European debt crisis never came while U.S. equity markets were open, there was plenty of positive news both here and abroad to keep stock traders going. Talk about the Chinese willingness to purchase any new fixed securities eminatin...
10/26/2011
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Mortgage backed securities (MBS) closed down 38 basis points today at 101.19 having fallen once again below the 50 day moving average which had briefly been support and which once again became a tough level of resistance. This fall may serve as a negative indication for the future. Although the...
10/26/2011
Stock futures painted a dismal picture this morning and events of the day bore them out. Netflix shares fell by 36% in reaction to their loss of over 800,000 subscribers over the price increase debacle. The Case Shiller report on housing values was up .2% over last month but alas was down 3.8% ...
10/25/2011
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Mortgage backed securities (MBS) closed up 66 basis points today at 101.56 having initially challenged the resistance level offered by the 50 day moving average at 101.53 prior to closing above it. Although held down by the daunting auction of $99 billion in new Treasury offerings this week, MBS...
10/25/2011
