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2011
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After five straight losing weeks and four consecutive losing days, the Dow showed some promise this morning as a selloff in the dollar allowed for early gains. The promise of a talk by Fed Chairman Ben Bernanke also had traders in a good mood early. His comments were not exactly enthusiastic, b...
06/07/2011
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Mortgage backed securities (MBS) closed up 9 basis points today at 101.16 having inched slightly closer to resistance offered by the high of December 6 last which is now just 15 basis points above. Traders were cautious this morning awaiting the results of today's Treasury auction of 10 year not...
06/07/2011
Stock future pointed toward a flat open this morning and in fact the market opened with some small losses. Their fortune worsened as the day developed, however. With little to think about but Friday's awful jobs report traders, were in a funk. Shortly before noon, Wells Fargo stock was donwgra...
06/06/2011
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Mortgage backed securities (MBS) closed down 3 basis points today at 101.03 having traded in a range below resistance and mostly in negative territory throughout the day. With no economic news hitting the board today, bond traders languished with thoughts of the 66 billion in new Treasuries that...
06/06/2011
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Stocks had a dismal beginning to a horrible day as traders reacted to ADP's jobs report which showed just 38,000 new jobs created last month. That was down by 177,000 jobs from March and far below the 185,000 new jobs expected. As we know, the ADP numbers have sometimes been far off the mark in...
06/01/2011
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Mortgage backed securities (MBS) closed up a whopping 66 basis points today having shot all the way up to the resistance ceiling offered by the close of 12/6/10. This represents the highest close of the year. A number of poor economic reports combined with a downgrade of Greek paper provided bo...
06/01/2011
