ARCHIVED BLOG POSTS
2010
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Other than the Fed's beige book, there was very little economic news today. The beige book, published eight time a year, is a compilation of "anecdotal" information based on interviews and analyses conduct by each of the Federal Reserve Banks. Today's reading showed that, although as previously...
09/08/2010
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Mortgage backed securities (MBS) closed down 31 basis points today at 100.50 coming to rest just barely above support offered by the 25 day moving average. MBS bonds gave back almost half yesterday's gains. When the results of today's Treasury auction came in favorably, bonds made a run at a ra...
09/08/2010
The stock market was shaken this morning upon hearing news that the stress tests performed on European banks may not have been as stringent as they should have been. Apparently the tests did not take into consideration sovereing debt, which especially in the case of Greece could paint a gloomier...
09/07/2010
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Mortgage backed securities closed up 66 basis points today at 100.81 having smashed through resistance offered by the 25 day moving average and settled in between the two levels of resistance posed by the recent closes. Global jitters once again spooked equity markets and rekindled the flight to...
09/07/2010
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The jobs report came out today flaunting improved numbers. As I mentioned yesterday, the key to the report is the private sector hiring. When it was learned that 67,000 new jobs were added instead of the 44,000 expected, stock excchange traders jumped for joy. That combined with a significant ...
09/03/2010
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Mortgage backed secucrities closed down 46 basis points today at 100.16 having fallen through a support level offered by the 25 day moving average. That level had not been broken for more than four months. The former support level now becomes resistance and the new support level is now the 50 d...
09/03/2010
A couple positive economic reports came out today allowing the Dow to build slightly on yesterday's sold gain. Initial jobless claims fell last week and pending home sales for July actually rose. This was especially good news after June's decline. The Dow managed a respectable 50 point gain co...
09/02/2010
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Mortgage backed securities (MBS) closed down 25 basis points today at 100.62 once again below double resistancee offered by the two recent closing highs and above support at the 25 day moving average. MBS bonds traded down to the support level during the day and bounced off it in a typical marke...
09/02/2010
The Dow rallied today in reaction to a surprisingly good report from the ISM Manfacturing Index. The Institute for Supply Management queries purchasing managers on their ordering levels for the month. An improved index figure indicates stronger production and a stronger economy in coming months...
09/01/2010
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Mortgage backed securities (MBS) closed down 34 basis points today at 100.88 right at one resistance level but below the close of 8/20. Although MBS bonds were able to surge forward in the face of positive economic news yesterday, they were thwarted today. Sustaining yesterday's gain, as I ment...
09/01/2010
