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Mortgage and Lending - Annie Mac Home Mortgage

ARCHIVED BLOG POSTS

2010 

Many times I have told you over the years that stocks and bonds tend to trade in opposite directions.  Well that was not the case today.  A huge rally in the bond market was not able to slow down this year's Santa Claus rally.  The Dow Jones average spent most of the day up in the 40s but closed ...
12/29/2010
Mortgage backed securities (MBS) closed up 119 basis points today at 98.94 having fully reversed yesterday's losses and more.  With no economic reports out today, the biggest event for MBS bonds was the Treasury auction.  As much as yesterday's auction was a stinker, today's was outstanding with ...
12/29/2010
Stock futures opened higher this morning and stocks followed suit having received good news on manufacturing from the Richmond Fed.  consumer Confidence was off a tad from the previous months which prevented stock traders from getting giddy on the early news.  Stocks closed with mixed results as ...
12/28/2010
Mortgage backed securities (MBS) closed down a whopping 100 basis points today having fallen through two levels of support.  A positive report from the Richmond Fed Manufacturing index started bonds off on a bad foot this morning.  That poor start was exascerbated by a poor Treasury auction.  Wit...
12/28/2010
Despite a retrenchment for Durable Goods orders, which were down 1.3% last month, the Dow managed a slight advance on the strength of low inflation numbers and the continuing decline in the number of new jobless claims.  There are new jobless claims in all  kinds of economies.  In order to reach ...
12/23/2010
Mortgage backed securities (MBS) closed down 41 basis points today at 98.59 now more than 100 basis points below resistance above.  Despite a good reading on inflation from the Personal Consumption Expenditure (PCE) Index, a further reductiton in initial job claims was enough good news for bonds ...
12/23/2010
A 5.6% increase in existing home sales in November was the headline propelling stock to mild gains today.  A slight improvement in the Gross Domestic Product (GDP), the sum of all goods and services produced in a year, helped the advance.  Tomorrow will be a day filled with economic reports.  Ran...
12/22/2010
Mortgage backed securities (MBS) closed down 3 basis points at 99.00 having traded in a tight 35 basis point range during the day.  This was the calmest day of trading in some time after huge swings in recent sessions.  Fed President Plosser was the second Fed speaker this week to hint that an im...
12/22/2010
With no economic reporting again today stock futures pointed higher this morning.  Once again action on the street related to mergers and positive reporting launched stocks in a positive direction.  The S &P 500 powered through a strong level of resistance at 1250 durirng the day and managed to s...
12/21/2010
Mortgage backed securities (MBS) closed up 28 basis points at 99.03 having opened slightly higher, swooned midday and rallied back at the close.  The candlesticks really don't give any indications of future market direction but the fact that bonds battled back to close at the high of the day is a...
12/21/2010
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