ARCHIVED BLOG POSTS
2014
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Stock futures began the day in positive territory as the only impending report for the day was existing home sales. Fannie Mae, which in recent years had been a virtual sieve and had to be bailed out to the tune of over $100 billion, turned a whopping $84 billion profit in 2013. Home sales decl...
02/21/2014
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Mortgage backed securities (MBS) closed up 12 basis points today at having come to rest just below support offered by the 200 day moving average. The bond, which has been flirting with this level for days, was up 25 basis points at one points before succumbing to late selling pressure. We hope...
02/21/2014
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Stocks had a strong day today as U.S. Purchasing Managers reported one of the largest improvements in some time. Facebook's acquisition of What's App caused Blackberry's owner Research in Motion to surge in today's trading. Tomorrow traders will be able to prognosticate on January home sales. ...
02/20/2014
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Mortgage backed securities (MBS) closed down 12 basis points today at 104.03 having closed just below support offered by the 200 day moving average. Money trickled out of MBS bonds today as investor funds flowed into stocks. Bonds were able to bounce off session lows which may portend well for ...
02/20/2014
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Stocks were all over the lot today. Prior to the Fed's announcement of the minutes of the Open Market Committee they were fairly close to even. As the afternoon went on, however, they began to lose ground. There were indications of dissension within the Fed's ranks. There were some wanting to...
02/19/2014
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Mortgage backed securities (MBS) closed down 19 basis points today at 104.16 having closed below the 25, 100 and 200 day moving averages. The large red candlestick casts a foreboding shadow as the bond has fallen completely off the nice crest it had been occupying a week ago. The 30 year fixed ...
02/19/2014
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Stocks could have easily been ill affected by some negative economic news today. Coca Cola, with its seemingly ubiquitous branding missed it sales numbers today. As a Dow component that could have had a huge impact. The Empire State Index of manufacturing experience a significant drop landing ...
02/18/2014
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Mortgage backed securities closed up 18 basis points to day at 104.34 having once again broken through resistance offered by the 200 moving average and closing exactly at the 25 day moving average just a few basis points above. The candlestick shows us that the bond closed at its high of the day...
02/18/2014
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With a lack of action in United States markets today, European markets were nearly flat. There were no U.S. Treasuries, no pork bellies and no purchasing of mortgage backed securities (MBS). As a result mortgage pricing was also flat. The dynamic changes in recent days with MBS bonds falling th...
02/17/2014
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The mortgage backed securities market is closed today in honor of President's Day. As traders spent their holidays away from the trading floor, we in the northeast were preparing for even more snow. There are mounds of white adorning every parking lot, driveway, walk way and gas station where e...
02/17/2014
