ARCHIVED BLOG POSTS
2014
1
Comments
Stocks, which spent much of the day at some pretty strong levels, closed the day with just moderate gains. Stock futures opened flat this morning in the wake of the Standard & Poors 500 having hit a record high yesterday. Part of the negativity that kept stocks in check was a downgrade in the 4...
02/28/2014
0
Comments
Mortgage backed securities (MBS) closed down 6 basis points today at 104.81 having closed down for the first time in the last six sessions. The 4.0% coupon bond closed exactly at support offered by the 104.81 level. With no Treasury auctions to boost bonds, they traded down for most of the day ...
02/28/2014
0
Comments
Stock future were lower this morning in reaction to the unrest in the Ukraine and also in concern over what Janet Yellen might say during her testimony to Congress. As it turned out she said that the economy may have slowed to a point at which she might have to stop the tapering process of the F...
02/27/2014
0
Comments
Mortgage backed securities (MBS) closed up 16 basis points today at 104.88 having pushed through resistance offered at the 104.81 level and closed above it. For a third consecutive day a Treasury auction garnered an "A" rating. I cannot remember ever having seen three A ratings in a row. The j...
02/27/2014
0
Comments
All three major indices closed up today after a topsy turvy session featuring swoops and swoons creating a dramatic chart while posting just minor gains. The new home inventory is now down to only 4.7 months after this winter's brutal assault on construction sites and their associated laborers ...
02/26/2014
0
Comments
Mortgage backed securities (MBS) closed up 22 basis points at 104.72 having touched resistance above offered by the 104.75 level prior to closing just below. A $35 billion auction of 5 year U.S. Treasury notes garnered an "A" rating today propelling MBS bonds to even loftier heights. The 30 yea...
02/26/2014
1
Comments
Stocks fell back slightly after yesterday's strong gains. A poor reading on Consumer Confidence set a negative tone early in the session which carried on throughout the day. A good $32 billion 2 year Treasury helped to keep pressure on stocks and pull money into bonds. The Case Shiller housing ...
02/25/2014
0
Comments
Mortgage backed securities (MBS) closed up 31 basis points today at 104.53 having opened a gap ahead and smashed through resistance offered by the 100 day moving average. the long green candle and the fact that bonds closed within 3 basis points of their highs for the day bodes well for tomorrow...
02/25/2014
0
Comments
Stocks had a nice run up today which took the Standard and Poors 500 to an all time high. there was a lot of activity in mergers and acquisitions which peaked traders interest today. In addition, despite the Obama care shortcomings and failures, the health insurance sector had a strong showing...
02/25/2014
0
Comments
Mortgage backed securities (MBS) closed up 6 basis points today at 104.21 sandwiched in between the 100 and 200 day moving averages. The 4.0% coupon bond also remained above the 50 day moving average offering additional support about 80 basis points below. With no major economic information inf...
02/25/2014
