ARCHIVED BLOG POSTS
2012
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Mortgage backed securities (MBS) closed up 16 basis points today at 103.88 having been able to remain just below resistance formed by the highest levels of all time. Interest rates are at a level which is encouraging yet another round of refinancing. We have a 5/1 ARM availabe at 2.625% for loa...
02/08/2012
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Stock futures pointed wisely to a poor opening in equity markets today. A continued lack of solutions in the Euro sphere caused uncertainty to prevail over any particular direction. The velocity of money indicator continued at a slow pace, preventing any appreciable increase in economic activit...
02/07/2012
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Mortgage backed securities (MBS) closed down 9 basis points today at 103.72 having remained near the historic highs of recent days. There was very little economic news to cause MBS bonds to move. On the geopolical front, news from Greece was as typically vague as that to which we have become a...
02/07/2012
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Stock futures opened lower this morning as they once again felt tremors from the perpetually unresolved status of the Greek bonds and the investors haircut debacle. Why can't they settle this issue once and for all? There were no economic reports due out today so it seemed that this Ouzo induce...
02/06/2012
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Mortgage backed securities (MBS) closed up 9 basis points today at 103.81 having recovered from Friday's sell off and gained back a little ground. The long term trend for MBS bonds has been positive for quite some time with a short term bias for locking in order to take advantage of this incredi...
02/06/2012
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Stock futures opened flat this morning as there had been little activity in Europe and traders were holding their positions close to the vest in advance of tomorrow's jobs report. Initial jobless claims remained low at 367,000 below expectations of 375,000 and improved the moving average. A rep...
02/02/2012
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Mortgage backed securities (MBS) closed up 9 basis points today at 104.03 (yes over 104.) having passed the all time high level and gone where no MBS bond had gone before. I know I have been telling you for years that every 50 basis point movement in the underlying MBS bond equates to a .125% ch...
02/02/2012
Stocks took a powerful step this morning on news from China and Germanyy that economic and production levels were up. The Italian 10 year notes were yielding less that six percent today down from their highs over seven. This good news served to unfold much of the "safe haven" trading that has b...
02/01/2012
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Mortgage backed securities (MBS) closed up 3 basis points today 103.91 having remained near all time high pricing despite a surging stock market. MBS bonds which were down early in the day proved resilient today despite yesterday's closing candlestick and its negative demeanor. Many times in th...
02/01/2012
