Groundhog Day?
7/28/09 Mortgage Backed Securities are plus 22bp this morning. The markets will be focused on autions again today. 42 Billion in 2 year Treasuries will be sold and the results released at 12:00. Earnings will also play a role again this week. The markets seem to be in a tight trading range since last weeks run up. The pundits are predicting a pull back in the equity markets. That should be bond friendly and take rates down. The pull back will be short lived in their opinion....

Groundhog Day?
7/28/09 Mortgage Backed Securities are plus 22bp this morning. The markets will be focused on autions again today. 42 Billion in 2 year Treasuries will be sold and the results released at 12:00. Earnings will also play a role again this week. The markets seem to be in a tight trading range since last weeks run up. The pundits are predicting a pull back in the equity markets. That should be bond friendly and take rates down. The pull back will be short lived in their opinion....

Auctions
7/27/09 Mortgage Backed Securities are -38bp this morning. New home sales jump 11%. The markets shrug off this bit of news. I have not changed much of the commentary below. I will update more if anything changes.

Auctions will heat up next, this to the tune of $215 billion. If memory serves me correctly, that is the highest amount actioned in one week in recent months. Plenty of news out this week including consumer confidence, the Beige Book, and intial jobless claims....

Investors and Volatility Return
7/24/09 Mortgage Backed Securities are -6bp this morning. The markets shrugged off consumer sentiment this morning. Like we talked about, this news would not be high impact. Next week will be a volatile week.

Auctions will heat up next week to the tune of $215 billion. If memory serves me correctly, that is the highest amount actioned in one week in recent months. Plenty of news out next week including consumer confidence, the Beige Book, and...

Smudging with Sage:
the Ceremony of Purification



Smudging has been used since ancient times by many people as a ceremony of purification--among pre-Christian pagans as well as Catholic and Eastern Orthodox churches, among Hindus and Buddhists as well as Cherokee and Lakota. Called "incense" in some traditions, it can be made of a variety of fragrant plant materials. Native Americans have used their local plants of obtained more exotic materials through...