ARCHIVED BLOG POSTS
2015
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Mortgage backed securities (MBS) closed up 44 basis points today at 104.00 have crossed above the 100 day and 200 day moving averages during the session before coming to rest just 9 basis points below the 200 day moving average. An awful day in the stock market precipitated by Chinese cutting th...
08/11/2015
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With the Chinese stock market index up over 5% over night, stocks here had a great day. Additional motivation to buy was spurned by comments from the number two person at the Fed indicating that rates would likely not go up until the Fed reaches its inflation goal of 2%. With many countries fig...
08/10/2015
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Mortgage backed securities (MBS) closed down 19 basis points today at 103 56 having come to rest just 12 basis below resistance offered at the 103.68 level. With the 100 and 200 day moving averages not far above, MBS bonds are still aspiring to rise up and improve rates. Considering a large adv...
08/10/2015
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Mortgage backed securities (MBS) closed up 19 basis points today at 103.75 having broken through and closed above resistance offered at the 103.68. This was a quick turn around for bonds which looked as if they were heading back down for a fourth consecutive dip. Currently the 100 and 200 day a...
08/07/2015
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A continuation of selling drove crude oil futures lower today which had the effect of pushing stocks still lower. Also a potential purchase in the online transportation mega sites as well as some turmoil in media stocks cause the tech heavy NASDAQ to lose 1.5% of its value today. Tomorrow's jo...
08/06/2015
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Mortgage backed securities (MBS) closed up 22 basis points today at 103.56 having advanced to within 12 basis points of resistance offered at the 103,68 level with the 100 day moving average not far above. Stocks suffered yet another bad day. The MBS bonds also improved due to New York buying ...
08/06/2015
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With the jobs report scheduled for this Friday stocks were a little wobbly. Fed Speaker Lockhart said today that it would take a serious deterioration in the economy to avoid a rate hike in September. If we listen to Janet Yellen, however, inflation is still far from the 2% target and the emplo...
08/04/2015
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Mortgage backed securities (MBS) closed down 44 basis points today at 103.44 having fallen through support offered at the 103.68 level and closed below it. This does not portend well for MBS bonds with traders already skittish in advance of this Friday's Jobs Report. As we thought bonds had rea...
08/04/2015
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Oil prices kept any potential stock improvements at bay today as a barrel of Texas crude was trading below $45 per barrel reaching a six year low. All the while Iran was projecting that when sanctions are released they will double production. This of course would further exacerbate the worldwid...
08/03/2015
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Mortgage backed securities (MBS) closed up 3 basis points today at 103.88 having crossed above tough resistance offered by the 100 day moving average prior to closing just 5 basis points below it. MBs bonds are in a precarious position right now resting just below a double ceiling formed by the ...
08/03/2015
