ARCHIVED BLOG POSTS
2014
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When the Fed announced that they would be ending QE III today, the market should have taken that in stride. Everyone new that would happen. They also reaffirmed their posture of keeping interest rates down for a "considerable" period of time. That too was stale news but you can never count on ...
10/29/2014
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Mortgage backed securities (MBS) closed down9 basis points today at 103.31 having remained below resistance offered by the 103.44 level and above support at the 25 day moving average. The Fed's announcement today that they would end QE III, the program of buying U.S. Treasuries and MBS bonds was...
10/29/2014
Stock futures pointed upward this morning as China's industrial profits showed improvement and Sweden cut its interest rate in an effort to stem deflation. European equities showed some advances which trickled into U.S. markets. Strong earnings reports and a bump in Consumer Confidence propelle...
10/28/2014
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Mortgage backed securities (MBS) closed down 19 basis points today at 103.41 having closed below support offered by the 103.44 level above which it had resided for over a week. A strong day in stocks caused money to move out of bonds today as the market resumed its normal ebbs and flows today. ...
10/28/2014
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Following the lead of stock futures, stocks opened down slightly this morning after a strong week saw the Dow average surge back toward the 17,000 mark. Merck had slightly better earnings but projected a weaker fourth quarter. Meanwhile the production outlook indicator in Germany looked drear. ...
10/27/2014
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Mortgage backed securities (MBS) closed up 12 basis points today at 103.59 having remained above support offered by the 103.44 level. It will be interesting to see what the effect of the minutes of the most recent FED Open Market Committe says on Wednesday. I would imagine with the election pe...
10/27/2014
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Stocks had yet another strong session today as the Dow surged upward toward teh t17,000 level once again. What started looking like a full blow correction a couple weeks ago has turned around with the same speed with which it approached. A correction is consider a sell-off of 10%. The recent s...
10/24/2014
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Mortgage backed securities (MBS) close even today at 103.50 having come to rest just 6 basis points above support offered at the 103.44 level. MBS bonds withstood yet another stock rally and failed to lose a single point. This level of resilience on a sustained basis is truly remarkable. I was...
10/24/2014
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Some good news on corporate earning generated a strong rally in stocks today. Blue chip Caterpillar showed strong earnings and increased its outlook for the rest of the year. The Dow which was up over 300 points at one point during the session closed up 219 point to join strong performances fr...
10/23/2014
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Mortgage backed securities (MBS) closed down 28 basis points today at 103.47 having fallen below support offered at the 103.56 level for the first time in eight sessions. another strong rally in stock occurred today and this time the normal result of a sell-off in bonds took place. The 30 year ...
10/23/2014
