ARCHIVED BLOG POSTS
2015
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Falling oil prices around the globe continued to weigh on stocks today as OPEC refused to cut back its production despite the world wide glut. Exxon Mobil's performance reflected the gloomy crude market and helped to move stocks lower. The employment cost index fell which helped MBS bonds and T...
07/31/2015
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Mortgage backed securities (MBS) closed up 46 basis points today at 103.84 having broken through a strong resistance level offered at 103.68. That level had held since June 1 As it turns out the 3.5% coupon bond closed within 9 basis points of the 100 day moving average. For the first time in ...
07/31/2015
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After 6 days of losses, the stock market had a positive day today. The Fed began its today Open Market Committee meeting today which will culminate with a monetary policy statement tomorrow at 2 PM. It is widely thought that there will be no increase until at least September with many pundits t...
07/28/2015
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Mortgage backed securities (MBS) closed down 6 basis points today at 103.41 having remained above support offered by the 50 day moving average and just27 basis points below important resistance at the 103.68. If MBS bonds can re-take that level, we could see some nice improvement in interest rat...
07/28/2015
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China's Shanghai Composite had yet another sell-off as America slept which touched off a global malaise that cost investors around in all quarters of the world. The Dow Jones which just flirting with new record last week and trading over 18,000 closed at 17,440 today. Despite a rally midday exc...
07/27/2015
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Mortgage backed securities (MBS) closed up 22 basis points today at 103.47 having risen 26 basis points above support now offered by the 50 day moving average, MBS bonds benefited from yet another poor day in equity markets. It is unusual to see such a solid advance ahead of a FED meeting as we...
07/27/2015
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Stocks were down once again today despite Startlingly good numbers reported from Amazon after markets closed yesterday. June new home sales were more than 100,000 less than expected showing the worst number thus far this year. With oil low and the dollar higher, stock fell lower and lower throu...
07/24/2015
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Mortgage backed securities (MBS) closed down 3 basis points today at 103.28 having remained just six points above support offered by- the 50 day moving average. With the Fed's Open Market Committee and the second quarter Gross Domestic Product figures coming up next week, bond traders are tradin...
07/24/2015
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Stocks began slowly this morning a 3M and Caterpillar, two giant manufacturing firms, showed mixed earnings. The fact that oil prices were trending lower further weighed on stocks. On a positive note, new unemployment claims were down to 255,000 which was the lowest amount since Nixon was Presi...
07/23/2015
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Mortgage backed securities (MBS) closed up 22 basis points today at 103.34 having broken through resistance offered by the 50 day moving average and closed 11 basis points above it. This is a positive move in that it closed well above the resistance. Beware, however, that some positive earning...
07/23/2015
