ARCHIVED BLOG POSTS
2012
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Stocks had been ambushed before they ever got out of the gate this morning. A callithump of bad news paraded across the news wires this morning as traders looked for any protection from negative sentiment. Falling production in China coupled with talk of Greece almost certainly defaulting on it...
07/23/2012
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Mortgage backed securities (MBS) closed up 25 basis points today at 104.16 having crossed over the 104 mark for the first time on their way to setting yet another all-time record. The Japanese candlestick indicates that MBS opened a gap upward but actually closed toward its lows of the day. Tha...
07/23/2012
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Stocks faltered today as the "safe haven" trade crept back in to markets is the face of a burgeoning debt crisis in Spain. Their debt has now become too expensive to sustain and it is hard to believe that the European Central Bank has the patience or the inclination to bali out a country that la...
07/20/2012
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Mortgage backed securities (MBS) closed up 25 basis points today at 103.88 having smashed through the old high closing and set a new record once again today. Huge levels of fear were created today as the yield on spanish bonds surged above the 7% level. At that high cost, Spain with its 25% une...
07/20/2012
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As I suggested in yesterday's blog, IBM's earnings, which came out after the market closed yesterday, gave a positive shot to stock futures early this morning. When the economic reports camee out, however, stocks quickly slipped into the negative. As the session wore on the IBM earnings and dre...
07/19/2012
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Mortgage backed securities (MBS) closed up 3 basis points today at 103.62 once again having equalled the highest close of all time for the 3.0% coupon bond. There was some bad news helping bonds in the way of a much higher number of inital jobless class versus last month's good number. Also the...
07/19/2012
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Stock futures began the day lower as the ebb and flow of informaton sweeps in and changes the landscape like a constant tidal pattern. Housing starts improved last month providing some promise for future sales. Rather than make comments about the possiblity of QE3, Fed Chief Bernanke challenged...
07/18/2012
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Mortgage backed securities (MBS) closed up 25 basis points today at 103.62 having achieved yet again another record high. Today was an unusual day in that both stoccks and bonds, which normally travel in different directions, saw solid gains. Low inflation pressures gave bond traders confidence...
07/18/2012
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Goldman Sachs set a solid bar for earnings that had investors buying stocks this morning. With increaseing hopes that the Fed is getting ever closer to re-kindling their accommodation policy in the form of QE3, there is a growing group of nay sayers who are calling for the bond bubble to burst. ...
07/17/2012
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Mortgage backed securities (MBS) closed down 22 basis points today at 103.38 having fallen from the lofty perch of yesterday's record setting close. Stock futures showed some promise this morning as investment bank giant Goldman Sachs posted better than expected earnings. The Consumer Price In...
07/17/2012
