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2015
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Mortgage backed securities (MBS) closed up 9 basis points today at 102.78 having remained wedged in between support provided at the 102.66 level and resistance just 3 basis points above at 102.81. MBS bonds are valiantly trying to move back to the higher levels that we saw as recently as June 1...
06/15/2015
After ADP reported 221,000 new jobs create in May, today government jobs figure was a pleasant surprise which sent both stocks and bonds downward. I am sure you are thinking, why would stocks go down in reaction to such a positive report? Once again it is the contrarian thought pattern in which...
06/05/2015
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Mortgage backed securities (MBS) closed down a whopping 59 basis points today at 102.81 having fallen below support offered at the low of 11/17/2014. After making a decent comeback yesterday after three days of large losses, the surprisingly large number of jobs created last month made way for a...
06/05/2015
Stock futures pointed upward this morning as an early reading from ADP on new jobs created in May showed an increase of over 200,000 jobs. Slight improvements in European economics and a seemingly sputtering U.S. economy gave traders hope that the Fed would wait until 2016 to raise rates. Comm...
06/03/2015
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Mortgage backed securities (MBS) closed down a whopping 59 basis points today at 103.12 having crashed through support offered at the 103.37 and 103.28 levels. The latter represented the low of November 17 of last year. The last three day have been disastrous for interest rates which have .375%...
06/03/2015
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Consumer [prices in Europe rose more than expected recently causing bond yields to rise. The effect caused sell offs in both Mortgage Backed Securities (MBS) and in U.S. Treasuries. Stocks opened down sharply on the news. At the same time Fed Speaker Brainard said that the economy was not prog...
06/02/2015
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Mortgage backed securities (MBS) closed down 41 basis points today at 103.75 having fallen through important support offered by the 200 day moving average and closing well below it. The fact that MBS bonds closed nearly 25 basis points below such a strong level of support despite heavy buying by...
06/02/2015
