ARCHIVED BLOG POSTS
2014
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Stocks began the day with a moderate downturn but as the dramatic news across the globe became unearthed, however, that turned into a near free-fall. First the disturbing news of the passenger plane being shot down over Ukraine came as we were imposing further sanctions on the Russians for their...
07/17/2014
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Mortgage backed securities (MBS) closed up 38 basis points today at 102.47 having closed above support offered by the 25 and 50 day moving averages and closed within 3 points of their high for the day. Since this advance was caused by dollars gushing out of stocks in reaction to both the Malaysi...
07/17/2014
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Stock futures were looking positive this morning as news came in from the orient that the Chinese economy is looking positive. while the Producer Price Index was a little hotter that expected, the core numbers were in line. The NAHB Housing Market Index rose higher than expected. While Fed fig...
07/16/2014
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Mortgage backed securities (MBS) closed even today at 102.09 having remained below the double resistance offered by the 50 and 25 averages about 15 basis points above. MBS bonds did well to remain even today as stocks had moderately strong gains. Tomorrow we will hear about initial jobless clai...
07/16/2014
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There was a lot of chatter on the street as Fed Head Janet Yellen testified before the Senate Banking Committee today. Unlike the Fed of yesteryear, the Fed's actions have been pretty well broadcast creating a transparency. Yellen told the committee that the economy was improving but she did no...
07/15/2014
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Mortgage backed securities (MBS) closed down 3 basis points today at 102.09 having remained below the double resistance offered by the 50 and 25 day moving averages. Today's trading was all over the place as traders tried to interpret Fed Chief Janet Yellen's testimony before Congress. With no a...
07/15/2014
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With no economic reports due out today stocks were quickly out of the gate in the black as Citibank reported strong earnings. Feeling optimistic, Goldman Sachs raised its forecast for the S & P 500 form 1900 to 2050 by year's end. Meanwhile oil prices were down to the $100 level for the first ti...
07/14/2014
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Mortgage backed securities (MBS) closed down 25 basis points today at 102.16 having fallen through support offered by the 50 and 25 day moving averages. Funds flowed out of bonds today as stocks were substantially higher. The sell-off caused the 30 year conforming to rise to 4.375% while the ju...
07/14/2014
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With Alcoa having opened the earnings period with a solid performance, we swung all the way to the other end of the alphabet today. Wells Fargo reported earnings that were right in line with estimates. This caused their stock to sell off 1% as equities opened lower. As Fed speaker Plosser said ...
07/11/2014
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Mortgage backed securities (MBS) closed up 19 basis points today at 102.44 having crept ever closer to resistance offered at the 102.72 level. With MBS bonds now solidly above the double support offered by the 25 and 50 day moving averages, we can carefully float into Monday's session. The jumb...
07/11/2014
