ARCHIVED BLOG POSTS
2011
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Mortgage backed securities (MBS) closed up a whopping 68 basis points at 100.53 after all analysts were bamboozled by yesterday's incredibly inaccurate ADP jobs report. When today's report from the government came in vastly below the street's expectations and even further below ADP's number, mor...
07/08/2011
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Stocks, which usually travel in the opposite direction from bonds, had a wonderful day reacting to the improving news on jobs. The European Central Bank raised its bank rate by.25% in a widely anticipated move to stave off inflation. All this good news resulted in the NASDAQ having its best eig...
07/07/2011
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Mortgage backed securities (MBS) closed down 31 basis points today at 99.78 having once again fallen throught the important support level offered by the 200 day moving average. Today's selloff was attributable substantially to jobs. The oft questioned ADP jobs reports came in above estimates an...
07/07/2011
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Stock futures pointed lower this morning with Portugese bonds downgraded to junk leve,l casting more aspersions on the condition of the Eurozone's banks and monetary system. Even with inflaton running rampant in China (remember that inflation anywhere will eventually lead to infaltion here) stoc...
07/06/2011
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Mortgage backed securities (MBS) close down 9 basis points today at 100.09 having traded in a 75 basis point range and having once again come to close above the critical 200 day moving average support level. Closing above that level should be a positive sign but with Chinese rates on the rise, s...
07/06/2011
The Dow showed some early morniig promise as factory orders rose in May by close to 1%. That came out with an ugly stepsister, however, as April was revised downward by nearly a point. Moody's downgraded Portugal's rating to below investment grade which put additional pressure on the Euro. As ...
07/05/2011
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Mortgage backed securities (MBS) closed up 44 basis points today at 100.19 having climbed backed over the important resistance offered by the 200 day moving average. If this level can be sustained it will become support and we may once again see some interest rate improvement. As the dollar ros...
07/05/2011
