ARCHIVED BLOG POSTS
2015
2
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Stocks were stumbling along in the doldrums this morning await the prospect of higher interest rates. The Dow was down over 100 points when the FED's Janet Yellen did the unthinkable by dropping the patient word from her comments. To everyone's surprise she follow that with extremely dovish ban...
03/18/2015
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Mortgage backed securities (MBS) closed up a whopping 75 basis points today at 102.12 having broken through three difficult levels of resistance offered by the 100, 25 and 50 day moving averages. Janet Yellen played a trick on everyone today when she removed the word "patient from her statement....
03/18/2015
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The dollar's seemingly relentless gains against global currencies faltered today causing stocks to advance. Even lower oil prices could not hold back the broad advance. Today's gains pushed the equity market back into a plus for the year thus far. A rally in Asian markets further assisted the ...
03/12/2015
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Mortgage backed securities (MBS) closed down 6 basis points today at 101.09 having fallen once again below the 100 day moving average. Despite a strong beginning MBS bonds lost all of their progress today after a poor D+ rating of today's Treasury auction. That resulted in a call to reprice for...
03/12/2015
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Stocks began the day on the plus side following the cue from the futures market. With no economic reports to guide traders, stocks were up and down throughout the session. By the end of the session all three major indices reflected slight losses. A strong "A" rating for today's Treasury auctio...
03/11/2015
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Mortgage backed securities (MBS) closed up 9 basis points today at 101.16 having fallen through support at the 101. level and ran all the way up to the 100day moving average above prior to closing right between them. Heavy Fed buying with the proceeds of maturing bonds held the MBS market back s...
03/11/2015
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Mortgage backed securities (MBS) closed up 44 basis points today at 101.31 having broken through and closed above resistance offered by the 100 day moving average. The fact that MBS bonds remained above resistance typically bodes well for pricing in the short term. Stocks performed poorly on fe...
03/10/2015
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Friday, despite what appeared to be a great jobs report, instead of rallying in reaction to the good news, traders sold in fear. The percentage of those who think the first fed rate hike will be in June went from 53% to 83% in just one day; but are they right? Inflation is still quite low, Euro...
03/09/2015
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Mortgage backed securities (MBS) closed up 28 basis points today at 100.88 having broken through resistance offered at the 101. lever and having come within 16 basis points of the 100 day moving average before closing below them both. Friday's dramatic sell-off was certainly a little hyperbolic ...
03/09/2015
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Stocks moved slightly forward today to provide the first gains of the week. Pundits are looking to see that 240,000 new jobs were created in February and it might be close. As the European Central Bank is set to begin buying bonds, we expect stocks there to advance. That may have a positive re...
03/05/2015
