Mortgages MAX

Posted To: MBS Commentary
It was a choppy day indeed on this last day of 2009. As per usual this week, much of that choppiness can be chalked up to much lower than normal volume. MBS and Tsy's tanked early with the 4.5 down all the way to 99-14 and the 10yr actually cracking the 3.9 mark. But by the earlier-than-normal end of trade, both had recovered to levels slightly better than their weakest recent closes. That puts the 4.5 at 99-27, down only 3 ticks on the day and the 10yr note up 4.3 bps to 3.835. Previous support had been 3.85. Over the past two weeks, we've tried hard to impress upon you the degree to which this end of year trading may be completely meaningless as far as what lies ahead in 2010. The holiday season makes it tough also. It plays a much larger role than you [...]

Original post by Matthew Graham

Posted To: MBS Commentary
Good Morning on this last day of the decade. 10 years sure did go by fast didnt it? Remember the whole y2k computer crisis? People thought the world was going to end when 1999 rolled over to 2000. We dodged a bullet on that one huh? (note sarcasm) Just out of curiosity…how are you planning on referring to 2010? Two thousand and ten? Twenty-Ten? O-ten? Ten? I'm leaning towards "Twenty-Ten"…it sounds like something George Jetson might say. Jobless Claims data has been released…it was not bond market friendly. Initial Jobless Claims were WAY better than expected, falling to 432,000 from 454,000 last week. Consensus forecasts were calling for a read of 460,000 new claims. This is the lowest number of initial jobless claims since July 19, 2008. Continuing Claims also beat expectations…(read more)
Forward this article via email:  Send a copy of this story to someone you know that [...]

Original post by Adam Quinones

Posted To: MND NewsWire
It’s the final day of the decade and the S&P 500 and Dow each are likely to close the year with their biggest annual percentage gains in five years, two of the many signs that the worst of the financial crisis is over. Year to date the S&P 500 is up 24.7% while the Dow is 20.2%. The economy may not be in shambles anymore but it’s still far from good, and for anyone who needs a reminder the one data entry today, jobless claims, should helpfully provide a dose of reality. Two hours before the trading session begins, The Dow looks to open 13 points higher at 10,503 while the benchmark S&P 500 looks to open 2.75 points higher at 1,124.75. Commodities are also on the rise with WTI Crude oil trading 36 cents higher at $79.64 per barrel and Spot Gold up $12.48 to $1,105.38…(read [...]

Original post by Patrick McGee