ARCHIVED BLOG POSTS
2011
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Mortgage backed seccurities (MBS) closed up 28 basis points at 100.88 having broken back above the 25 day moving average and created a double level of support. President Obama's mid afternoon comments about progress in the debt ceiling talks gave traders a jolt of adreniline infused confidence a...
07/19/2011
Despite calls by some prognosticators for an extended rally in stocks, a rush to the safe haven of gold and other precious metals saw stocks falling sharply today. With the uncertainty of the debt ceiling debate weighing upon them, traders sold heavily today. With S&P talking of downgrading sto...
07/18/2011
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Mortgage backed securities (MBS) closed down 22 basis points today at 100.56 having fallen below the 25 day moving average and closed wedged just 1 basis point above the 50 day moving average. Word that foreigners sold more MBS bonds and Treasuries in May than they purchased sent bond prices spi...
07/18/2011
As one of the early participants in the corporate earnings season, JPM Chase, reported better than expected results causing the Dow to open with some nice gains. That positive note was complimented by fewer jobless claims than were expected. The 405,000 new claims were approaching the 400,000 l...
07/14/2011
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Mortgage backed securities(MBS) closed down 41 basis points today at 100.69 having managed to remain above support offered by the 25 day moving average. MBS traders saw through the seemingly good inflation read from the Producedr Price Index. They realized that the core index with energy strip...
07/14/2011
Stocks started out the with leaps and bounds forward reacting to reports of significant growth in China's economy. with no economic reeports due out to the market was waiting to hear the spin from Ben Benanke's semi-annual testimony before Congress. He made reference to a possible new waive of...
07/13/2011
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Mortgage backed securities (MBS) closed up 25 basis points today at 101.09 having fallen through the 25 day moving average and down to the 50 day moving average before bouncing off that support and closing above them both. Bonds started the day poorly as Bernanke talked of a faster improvement o...
07/13/2011
After yesterday's dramatic sell off, stocks were significantly more stable today having spent some time in the positive, just barely postive, before closing with yet another loss. After a nice six precent plus gain in late June, stocks have experienced a quick correction. Uncertainty rules the ...
07/12/2011
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Mortgage backed securities (MBS) closed up 9 basis points today at 101.09 having sustained the levels reached by Friday's surprising huge rally. On top of the shockingly low number of new jobs created in June, MBS bonds were helped today by new chaotic events swirling around Europe. First there...
07/12/2011
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Stocks ended their recent string of positive sessions today as the historic inaccuracy of ADP's jobs reporting may have casuds its biggest debacle of all time. Traders were dumbfounded early this morning when only 18,000 new jobs were reported by the government. The news sent stocks tumbling do...
07/08/2011
