ARCHIVED BLOG POSTS
2014
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With no economic reports being offered up as fodder for traders, stocks climbed early this morning. San Francisco Fed Head John Williams said today the he did not envision the Federal Funds rate rising from its current perch until at least mid 2015. That concurred with Janet Yellen's estimate l...
03/24/2014
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Mortgage backed securities (MBS) closed up 3 basis points today at 103.84 having risen just 3 basis points above support and remained just below the four moving averages. Interest rates were unchanged today as the needle just barely on the MBS bonds today. Jumbo rates remained the bargains toda...
03/24/2014
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After operating in the black for much of the day and having been up over 100 points early in the session, stocks faded and wound up with moderate losses across the board. Stocks began to sell off when the Fed President Fisher stated that he felt the "efficacy" of the quantitative easing program,...
03/21/2014
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Mortgage backed securities (MBS) closed up 12 basis points today at 103.81 having closed right at resistance and remained below the four moving averages they having been toying with for a couple weeks. The bond closed just 6 basis points below its high for the day which should help them stabiliz...
03/21/2014
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Stocks rallied today making up for almost all of yesterday large losses. Fed Chief Janet Yellen yield the stage today after sophomoric give away yielding the definition of extended period to a reporter. There to take up the slack were a much improved Philly Fed report and a low number of initia...
03/20/2014
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Mortgage backed securities (MBS) closed up 3 basis points today at 103.69 having remained below all four moving averages that until yesterday's FED comments had been support. The MBS market leveled out today after yesterdays huge losses. The 30 year fixed rate did rise to 4.625% as I expected. ...
03/20/2014
Stocks began the morning slowly risiing as traders were wary of the changes impending at what is now Janet Yellen's FED. As suspected they did in fact decide to abandon their use of the unemployment rate for measuring the need to increase or decrease their accommodative spending. The new decsis...
03/19/2014
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Mortgage backed securities (MBS) closed down a whopping 66 basis points having crashed through the triple levels of support that I bragged about yesterday. As I thought, although the news about the FED reducing their purchasing program from $65 billion a month to $55 billion was said to be price...
03/19/2014
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Stocks followed up yesterday's strong advance with another good day of equity trading. Much of which had to do with Vladimir Putin being a relatively good boy by not annexing any new territory today. Tomorrow we will find out how the Fed's change from using the employment levels as their gauge ...
03/18/2014
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Mortgage backed securities (MBS) closed up 19 basis points today at 104.38 having come to rest in an enviable spot indeed. The 4.0 coupon bond finds itself atop the 25 day, 50 day, 100 day and 200 day moving averages. That is a pretty good way to celebrate Janet Yellen's first Open Market meeti...
03/18/2014
