Clint 's Blog

Apparently the government is 100% in the banking business these days huh? Markets volatile, as always. Dow finished way up, two day gain of 778 to close the week at 11,388. NASDAQ jumped 74 points to close the week at 2,273, and the S&P banged out a 48 point gain to finish at 1,255. This took mon...

Another wild day in the financial world. Did you expect less? Bonds poked their head into positive territory but showed ridiculous volatility as they traded in a huge 81 bp range. The 5.5% FNMA mortgage bond ended the day to close flat, $101.00. Weekly jobless claims increased ty 10,000 to 455,00...

Violent swings today in all markets. It's apparently a situation where no one has a clue what's going on. Employment market appears to still be headed towards more bad times as initial claims were higher. Should've been bond friendly but we're down 22bp as of 2:36pm. We're currently trading withi...

Yesterday was odd....considering that everything happened exactly opposite of how it "should've happened" assuming you used history as your guide. However, yesterday's panic led to more chaos today although things we're brought back to "a little closer to expected." That doesn't mean good, that j...

The effects will be clearer tomorrow but in spite of the market betting on a 100% chance of a .25 cut by the Fed today, the Fed left rates alone. This should start impacting bond prices tomorrow and anything that happens today will most likely be a knee jerk reaction. Stick around, could be some ...

2:15 we should find out about the Fed rate. The market has a 100% chance of a .25 cut coming from the Fed. This could and most likely will make mortgage rates spike in the short run. If you've been paying attention, that's what has happened in every cut this year. The reason is that A) mortgage r...

There was more blood on the table today for sure as the latest casualty from the credit crunch hit like thunder this morning. Lehman Brothers filed for Chapter 11, the largest in US history. But the other news wasn't anything to sneeze at either. Bank Of America, obviously not scared of spending ...

With some bond friendly economic reports out today, I expected a break above the ceiling of resistance today and oops....we didn't get it. The market movers that were due today were PPI for August, estimated at -.5% and the actual was -.9% so that's good news right off the bat at 8:30 this mornin...

I've been right so far, Monday's spike in mbs (drop in rates) has held up. The price of mbs has been in an upward trend cycle since around Mid August. The stock market has been volatile, the bond market has been volatile, hurricanes, energy up and then down, gas/oil is dropping to levels unseen s...

With Monday's huge jump in mortgage backed securities, we're shifting our focus to the FNMA 5.5% bond. Today, we started the day way down, as much as -28bp. By mid morning we were looking at 16bp gain. However, with no real significant (as far as bonds are concerned) economic reports due out it w...