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2015
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I recently had the opportunity to ask an economist what the effect would be of a .25% rate by the Fed. Here is a paraphrased summary of his comments. Typically rumor is always worse than reality. The sun will come up the day after. The rise will actually be healthy because the consumer drives ...
11/18/2015
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Now seemingly embracing the opportunity that the Fed might raise their fed funds rate, stock traders are racking up nice gains. In recent months when oil prices has dipped down, stocks have suffered. Today, however as the crude oil futures dipped below $40. per barrel stocks had significant gai...
11/18/2015
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Mortgage backed securities (MBS) closed up 3 basis points today at 103.31 having once again inched toward tough resistance offered by the 100 day moving average now just 35 basis points above. Huge numbers from Apple propelled the NASDAQ up nearly 90 points. The Fed released its minutes from th...
11/18/2015
With Fed funds futures indicating a 70% chance of a .25% interest rate hike in December, one would think that stock traders would be wailing and whining. Instead stock markets here experienced a solid rally after Friday's sell off. Usually when the dollar gains ground against European currencie...
11/16/2015
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Mortgage backed securities (MBS) closed up 6 basis points at 103.25 having climbed to within 40 basis of resistance offered by the 100 day moving average. the fact that MBS bonds managed to gain anything in the face of a good sized stock rally is impressive. The bonds are mounting a slow arduou...
11/16/2015
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Stocks to say the least had a bad week and Friday the 13th proved to be unlucky indeed. Still reeling from Fed speak in recent days, today proved no exception as more Fed Presidents and voters forecast a likelihood that the first hike since 2008 would occur in December. That having been said no...
11/13/2015
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Mortgage backed securities (MBS) closed up 22 basis points today at 103.16 having once again closed above resistance offered at the 103.09 level 7 basis points below. This was the first positive close for MBS bonds ending a slide that began 11 sessions ago on October 28. Hope fully interest rat...
11/13/2015
The specter of six Fed speakers with their tongues on the loose after last week's jobs report had stock traders feeling quite jittery this morning. As the day developed, many of them indicated that they felt December was indeed the time for the first hike on the Federal funds rate since 2008. I...
11/12/2015
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Mortgage backed securities (MBS) closed even today at 102.94 having remained 15 basis points below resistance at the 103.09 level and well below the four moving averages that were support levels in the not too distant past. It seems that MBS bonds have positioned interest rates so that they hav...
11/12/2015
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While bond traders took the day off to observe Veterans Day, stock traders dutifully filed into the exchange and manned their posts. How were they rewarded for their diligence? After trading in positive ground for moments during the day, they wound up with losses. All three major exchanges wer...
11/11/2015
