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Bulls In A China Shop - 11/23
Posted 11-23-2009 at 10:12 AM by dlenski
Bulls In A China Shop
11/23/09 Mortgage Backed Securities are minus 6bp this morning. The Bulls are reacting to the news that home sales rose 10.1% in October. The dollar is also weakening again here this morning. This has caused the stock markets to surge in early trading. The current surge has put early pressure on the bonds.
The manipulation of the stock and bond markets continue. Last month we saw the cash for clunkers stimulus cause stocks to move higher. We see the Fed continue to allow the dollar to devalue. The First Time Home Buyers Credit caused the latest spike in housing and subsequent rise in the markets today. If the markets fall we see cheaper interest rates.
A non voting FOMC member said the the MBS purchase program should be extended. He will become a voting member in January.
Here is a list of high impact news being released next week. PCE will be released on Wednesday. Auctions are scheduled for Monday, Tuesday and Wednesday.
www.mortgageserviceswi.com
11/23/09 Mortgage Backed Securities are minus 6bp this morning. The Bulls are reacting to the news that home sales rose 10.1% in October. The dollar is also weakening again here this morning. This has caused the stock markets to surge in early trading. The current surge has put early pressure on the bonds.
The manipulation of the stock and bond markets continue. Last month we saw the cash for clunkers stimulus cause stocks to move higher. We see the Fed continue to allow the dollar to devalue. The First Time Home Buyers Credit caused the latest spike in housing and subsequent rise in the markets today. If the markets fall we see cheaper interest rates.
A non voting FOMC member said the the MBS purchase program should be extended. He will become a voting member in January.
Here is a list of high impact news being released next week. PCE will be released on Wednesday. Auctions are scheduled for Monday, Tuesday and Wednesday.
www.mortgageserviceswi.com
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