ARCHIVED BLOG POSTS
2014
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Mortgage backed securities (MBS) closed up 10 basis points to day at 105.16 today having opened up a gap and closed above resistance at the 104.93 level that had held for several days. MBS bonds cracked through higher resistance at the 105.21 level prior to closing just below it. This the kind of...
09/22/2014
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Stocks continued to wallow in the joy of yesterday's Fed announcement about continued low rates. An announcement to the contrary would have send stocks reeling. Today stocks were further buoyed by an initial jobless claim number that was the second lowest since 2000. Even declines in housing s...
09/18/2014
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Mortgage backed securities (MBS) closed up three basis p;points today at 104.84 having remained just below resistance offered by the 104.93 level and just above support at the 200 day moving average just 11 points below. Remaining above the 200 day moving average is critical for bonds if we are ...
09/18/2014
Stock futures began the day right on the carpet as traders awaited the Fed's wording on how long it would be before they began raising interest rates. Stocks began to creep ahead right up until the announcement. When it was know that the "considerable time" language was still in place, stock so...
09/17/2014
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Mortgage backed securities (MBS) closed down 3 basis points today at 104.88 having remained just below resistance offered at the 104.93 level. Today's trading was symbolized by a long thin red candle stick. The uncertainty about what the FED would do about raising rates caused huge swings in th...
09/17/2014
Stocks were not scheduled to move much today in anticipation of tomorrow's FED announcement. During the day , however, word or rumor leaked out that they were going to keep the language the same as it had been. That gave traders confidence and stocks rallied. All three major exchanges moved st...
09/16/2014
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Mortgage backed securities (MBS) closed even today at 104.91 just 2 basis points below resistance offered by the 104.93 level above. It seems MBS traders were literally treading water in advance of the announcement at 2PM tomorrow regarding what the FED's next action will be. Most pundits belie...
09/16/2014
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Stock futures opened just barely above the deck this morning. The New York State Manufacturing Index was significantly higher than expected today at its highest level since October 2009. The index is thought to be a harbinger of production levels in the future. Even with that good news in hand...
09/15/2014
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Mortgage backed securities (MBS) closed up 7 basis points today at 104.91 having come to rest just 2 basis points below resistance offered by the 104.93 level. Traders are still treading water in advance of the results of the Fed Open Market Committee which will be released Wednesday at 2PM. Th...
09/15/2014
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Stock futures were flat this morning after yesterday's losses. Retail sales improved and consumer sentiment was up but stocks opened lower. It seems investors were concerned about the results of next Wednesday Fed Open Market Committee meeting. If it appears rate increases are coming, stocks w...
09/12/2014
