U.S. Treasuries rose after data on housing, jobs, prices and manufacturing raised concerns about the U.S. economics’ strength. We broke through the 103 barrier on July FN30 3s yesterday (and subsequently reversed almost full... Read More »
It’s a slow news week so I figured I’d mix it up a little and provide a write-up on a Bank of America, Merrill Lynch analysis of the housing market. As home prices continue to climb and is housing construction on the rise,... Read More »
The U.S. Federal Reserve on Wednesday announced it would continue buying $85 billion per month in bonds helping keep interest rates low in the continued attempt to spur growth. The Fed expressed concerns about the drag from Washington’s... Read More »
In light of the recent soft data patch and low inflation, some are expecting the Fed to possibly postpone tapering off QE later this year. Tapering off QE3 this year was not a promise or a forecast made by Bernanke. It was simply... Read More »
Bank of America CEO Brian Moynihan Bank of America Corp’s revenue fell across almost all of its business sectors in Q1 of 2013 as the financial powerhouse under CEO Brian Moynihan continues to be haunted by its purchase of Countrywide.... Read More »
In the latest March minutes, the U.S. Federal Reserve appears to be on course to start tapering off the pace of asset purchases by midyear and end their extraordinary bond buying program by year end. The meeting occurred on March... Read More »
Employment data has been the primary driver to mortgage rates all week. Wednesday and Thursday’s ADP and Initial Claims results pushed mortgage yields on MBS June FN30 3 futures contracts from 102-19 to upwards of 103-15, a... Read More »
Three Federal Reserve *doves on Wednesday defended the central bank’s bond buying program, however one member who normally is viewed as a centralist suggested it would not take much more in job creation to scale back the quantitative... Read More »
US Average Daily Spending for 2013 The Federal Reserve pressed onward Wednesday with its stimulus policy despite improvements in the U.S. economy. The primary driver being stubbornly high unemployment, fiscal headwinds from Washington... Read More »
Retail sales on Wednesday showed stronger-than-expected growth in February showing our economy is maintaining our recovery pace despite sequestration budget cuts, higher taxes and increased fuel prices. The Commerce Department... Read More »
While the attention of most is firmly focused on the DOW, it was the FHFA’s announcement of the GSE (Government Sponsored Enterprise) reform that generated buzz within the mortgage industry. Acting director Edward DeMarco... Read More »
U.S. investors are exercising caution in the face of the political uncertainty about the spending cuts when it comes to making a move in either direction. U.S. stock-index futures declined, erasing any gains in the last few minutes... Read More »
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