ARCHIVED BLOG POSTS
2014
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Mortgage backed securities (MBS) closed up 31 basis points today at 105.38 having burst through resistance offered at the 105.16 level on its way to once again matching the October highs. interest rates continued to fall in concert with rising bond prices as the Fed remained the principal buyer ...
05/14/2014
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Standard & Poor futures opened higher this morning keeping pace with mortgage bonds. Retail sales for April were up slightly this morning and there was a small upward revision in the March numbers. Case Schiller reported that although home prices were up 11.3% in 2013, they expected only about ...
05/13/2014
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Mortgage backed securities (MBS) closed up 34 basis points today at 105.06 having risen sharply and burst through resistance offered at the 105.03 level. The long green candle today shows us the path that the resurgent 3.5% coupon bond took today closing within 3 points of its high of the day. ...
05/13/2014
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With no economic reports coming out today and continued unrest in Ukraine, one would have expected a poor trading session today. To the contrary, however, stock futures pointed higher this morning. The Dow closed with a record high yesterday and the S & P 500 is within range of one today. News...
05/12/2014
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Mortgage backed securities (MBS) closed down 9 basis points at 104.78 having remained below resistance offered by the 105.03 level but still above the 4 moving averages. The Japanese candlestick chart show three long red candles for the past three sessions representing a fall from the high point...
05/12/2014
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Stock futures opened with a timid outlook this morning as European stocks were faltering and a major merger of two large advertising firms was cancelled. With no economic reporting today stocks were mixed as the NASDAQ and the S & P were down slightly and the Dow a little higher. As the tradin...
05/09/2014
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Mortgage backed securities (MBS) closed down 19 basis points today at 104.88 having fallen through support offered by the 105.03 level. The reason the numbers are so much lower that yesterday's is the that the monthly coupon rollover occurred last night as one month expired and we moved to the n...
05/09/2014
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Stocks had an interesting day today with stock futures opening pointing upward. First quarter productivity declined 1.7% versus the 1.2% that was expected. Surprisingly a report came out the Vlad Putin was looking to settle the Ukraine debacle with diplomacy. Yellen testified before Congress t...
05/07/2014
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Mortgage backed securities (MBS) closed up 16 basis points today at 105.41 having closed above all levels of resistance. There is talk about changing back to the 3.50% coupon. Remember that the actual interest rates reflect the coupon amount plus approximately ,75% which the commission wall str...
05/07/2014
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Stock futures pointed downward this morning as trading in Europe appeared somewhat skeptical. The Organization of Economic Cooperation and Development issued a statement indicating that the economy would improve after our winter of extreme weather. Stock traders would have none of that good new...
05/06/2014
