ARCHIVED BLOG POSTS
2016
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Fed Chairman Janet Yellen said today "it will be appropriate for the Fed to gradually and cautiously increase rates over time in the coming month." I wonder if she meant months. It will not be too long before we know the answer. Stock futures pointed upward this morning after Friday's gains. ...
05/31/2016
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Mortgage backed securities (MBS) closed up 9 basis points today at 102.34 having remained above support offered by the 100 day moving average and passed over the 50 day moving average prior to closing just 5 basis points below it. I am still advising to cautiously float for loans closing in the...
05/31/2016
While the bond market shortened its session by two hours in observance of the Memorial Day holiday, stock markets here had full trading sessions. Despite a weakening GDP and lower than expected consumer sentiment reading, stocks made minor advances. It will be interesting to see how the disappo...
05/27/2016
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Mortgage backed securities (MBS) closed down 3 basis points today at 102.28 having remained above support offered by the 100 day moving average and come within one basis point of the 50 day moving average. I am still advising to cautiously float for loans closing in the near term. with little ...
05/27/2016
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With weekly initial jobless claims, durable orders and pending home sales being released today, S& P futures were moderately higher. Oil surged above the $50 per barrel level and gas prices which have increased of late are still $.50 less per gallon than they were last Memorial Day weekend. Dur...
05/26/2016
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Mortgage backed securities (MBS) closed up 22 basis points today at 102.31 having once again broken through resistance offered by the 100 day moving average and during the day came withing 4 basis points of the 50 day moving average. I continue to cautiously float for loans closing in the near ...
05/26/2016
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With no economic reports being released today, stock opened the day well higher despite oil futures floating above $49 per barrel. An A rating for today's Treasury of auction of 34 million 5 year notes kept MBS bonds from losing more than 9 points even though stocks were rallying. The bond mark...
05/25/2016
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Mortgage backed securities (MBS) closed down 9 basis points today at 102.06 having once again fallen through support offered by the 100 day moving average but this time closing 1 point below it. The fact that the bond was not able recover and close above that average bodes poorly for short term...
05/25/2016
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Despite the specter of the Fed raising interest rates next month looming over markets, Standard & Poor's futures managed to lean forward as the starter's gun began this morning's race. Fed Funds Future showed a 30% chance of a June rate hike and oil futures sold at over $48.00 per barrel, yet st...
05/24/2016
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Mortgage backed securities (MBS) closed down 12 basis points today at 102.16 having fallen through the 100 day moving average at one point during the day prior to closing 11 basis points above it. The fact that the bond was able recover and close above that average bodes well for short term tra...
05/24/2016
