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You are viewing Micro News from Friday, Apr 1, 2011 - View all recent Micro News
  • 4/1/11
    Originator Compensation: Still in the Fight
    READ THIS POST: http://www.mortgagenewsdaily.com/channels/voiceofhousing/205699.aspx
    Category: MBS, INDUSTRY
    Share:   
  • 4/1/11
    Much Less Data Overall and no Treasury Auctions in the Week Ahead
    In stark contrast to the week just passed, next week has no auction supply and quite a light schedule of economic data. All you'll get Monday is breakfast with Dennis Lockhart and a bedtime story from Uncle Ben. Those two fed speakers allude to the one commonality between this week and last: TONS of Fed speakers, particularly Lockhart... He's with you again on Tuesday morning, but this time followed by some data at 10:00am with the ISM Non-Mfg Index. Then, it's more Fed speakers (Kocherlakota and Plosser in the early afternoon) before the 2pm release of the FOMC Minutes. Wednesday is light on data again, but guess who's coming for breakfast! Denny Lock! Thursday looks like the busiest day of the week, but seeing as how your morning will only be graced by Fed's Lacker, we think the lone data point of 830am Jobless Claims is little consolation for enduring a breakfast without our precious Dennis.... Oh, and of course, what off-cycle Thursday would be complete without a new supply announcement and the standard issue Fed Balance Sheet/Money Supply? On Friday, Wholesale Trade stands alone in the 10:00am econ slot, and THANKFULLY, the nature of the human experience once again becomes understandable as our hearts are once again locked down by the man, the myth, the legend: Lockhart!
    Category: MBS, FED, ECON
    Share:   
  • 4/1/11
    Can you hear it now? Drip, drip, drip... It's not...
    MBS Updates are a service provided to MBS Live! subscribers only.
    Learn More | Start a Free Trial | View MBS Prices
    Category: MBS
    Share:   
  • 4/1/11
    Across the MBS stack and the yield curve alike, there...
    MBS Updates are a service provided to MBS Live! subscribers only.
    Learn More | Start a Free Trial | View MBS Prices
    Category: MBS
    Share:   
  • 4/1/11
    10yr yields have dropped for a 3rd time now to test...
    MBS Updates are a service provided to MBS Live! subscribers only.
    Learn More | Start a Free Trial | View MBS Prices
    Category: MBS, alert
    Share:   
  • 4/1/11
    The previously mentioned trend channel got a friendly...
    MBS Updates are a service provided to MBS Live! subscribers only.
    Learn More | Start a Free Trial | View MBS Prices
    Category: MBS
    Share:   
  • 4/1/11
    Looking at the FNCL 4.5 chart so far today, we can...
    MBS Updates are a service provided to MBS Live! subscribers only.
    Learn More | Start a Free Trial | View MBS Prices
    Category: MBS
    Share:   
  • 4/1/11
    Fed's Dudley Brings Balance to Recent Hawkishness
    * 07:50 - FED'S DUDLEY SAYS JOBS GROWTH ENCOURAGING, BUT DON'T WANT TO OVERSTATE HOW FAR WE HAVE COME * 07:54 - FED'S DUDLEY INFLATION EXPECTATIONS STILL SEEM TO BE WELL-ANCHORED, WAGES SUBDUED * 07:55 - FED'S DUDLEY-WE HAVE ABILITY TO EXIT, TOO SOON TO TALK ABOUT HOW
    Category: MBS, FED, ECON
    Share:   
  • 4/1/11
    For a fleeting moment, we just had FNCL 4.5's at...
    MBS Updates are a service provided to MBS Live! subscribers only.
    Learn More | Start a Free Trial | View MBS Prices
    Category: MBS, alert
    Share:   
  • 4/1/11
    US econ growth gauge rose in latest week- ECRI
    NEW YORK, April 1 (Reuters) - A measure of future U.S. economic growth rose slightly in the latest week, a research group said on Friday. The Economic Cycle Research Institute, a New York-based independent forecasting group, said its Weekly Leading Index rose to 130.0 in the week ended March 25 from a revised 129.1 the previous week, originally reported at 129.3. That was the highest level since the week of March 11, when it stood at 130.3 The index's annualized growth rate rose to 6.5 percent from 6.4 percent a week earlier. (Reporting by Padraic Cassidy; Editing by Theodore d'Afflisio)
    Category: MBS, ECON
    Share:   
  • 4/1/11
    Fed's Fisher - wage pressures may be building
    * 07:09 - FISHER - U.S. JOBS NUMBERS GOOD, RECOVERY IS SELF SUSTAINING * 07:09 - FISHER - SEEING SPREADS NARROW, LIBERAL LENDING PROVISIONS, SIGNS OF INCREASING SPECULATION * 07:09 - FISHER - SHOCKS FROM JAPAN DISASTERS, MIDDLE EAST TURMOIL NOT LIKELY TO HAVE BIG IMPACT ON OUTLOOK * 07:11 - FISHER - WE ARE MAKING PROGRESS IN TERMS OF A SUSTAINED ECONOMIC RECOVERY, EXPECT TO CONTINUE MOVING IN THAT DIRECTION
    Category: MBS, FED, ECON
    Share:   
  • 4/1/11
    Highlights From Fed's Lacker
    *FED'S LACKER SAYS FED MUST KEEP AN EYE ON POTENTIAL INFLATION RISK *FED'S LACKER SAYS FED TRYING TO THINK THROUGH SEQUENCE OF CURBING MBS PURCHASES, RAISING RATES *FED'S LACKER SAYS DOES NOT THINK FED IS BEHIND THE CURVE ON INFLATION * FED'S LACKER SAYS MUST BE ALERT TO NEED FOR POSSIBLE RAPID WITHDRAWAL FROM STIMULUS MEASURES
    Category: MBS, FED, ECON
    Share:   
  • 4/1/11
    After an exceedingly long and narrow range prevailed...
    MBS Updates are a service provided to MBS Live! subscribers only.
    Learn More | Start a Free Trial | View MBS Prices
    Category: MBS, alert
    Share:   
  • 4/1/11
    Fed's Dudley: Jobs growth likely to gather pace
    (Reuters) - U.S. jobs growth is likely to rise more rapidly in the coming months as the economic recovery gathers steam, but this is not a reason for the Federal Reserve to reverse course, a top Fed official said on Friday. "We are still very far away from achieving our dual mandate of maximum sustainable employment and price stability," New York Federal Reserve Bank President William Dudley said, according to prepared remarks. "Faster progress towards these objectives would be very welcome." The president of the New York Fed has a permanent voting seat on the Fed's policy-setting panel. Dudley's recent views have been "dovish" on inflation. At its last meeting, the Fed unanimously voted to keep its $600 billion bond purchase program unchanged. The program is scheduled to end in June. Dudley was in San Juan, Puerto Rico, to address the E-3 Summit of the Americas. Earlier on Friday the U.S. government released its employment data for March, which showed a second straight month of solid gains and a decline in the jobless rate to a two-year low of 8.8 percent. Graphic: r.reuters.com/kab88r Dudley called the jobs data "good news" but said the Fed would need to see sustained strong employment growth to be sure that a "virtuous circle" -- in which rising demand generates more rapid income and employment growth and leads to more consumer spending -- has become firmly established. While there is still uncertainty about the speed of the labor market recovery, Dudley said, he is "hopeful that jobs growth will increase more rapidly in the coming months." Puerto Rico is part of the New York Fed's district. (Reporting by Kristina Cooke; Editing by Leslie Adler)
    Category: MBS, FED
    Share:   
  • 4/1/11
    DATA FLASH: Construction Spending Falls 1.4%
    * US FEB PRIVATE CONSTRUCTION SPENDING -1.4 PCT, PUBLIC SPENDING -1.3 PCT *** US FEB CONSTRUCTION SPENDING LOWEST SINCE $759.9 MLN IN OCT 1999
    Category: MBS, ECON
    Share:   
  • 4/1/11
    DATA FLASH: ISM Index 61.2 versus 61.4 in February
    * PRICES PAID INDEX 85.0 IN MARCH (CONSENSUS 83.0) VS 82.0 IN FEB NEW ORDERS INDEX 63.3 IN MARCH VS 68.0 IN FEBRUARY
    Category: MBS, ECON
    Share:   
  • 4/1/11
    After getting as low as 101-08, FNCL 4.5s are back...
    MBS Updates are a service provided to MBS Live! subscribers only.
    Learn More | Start a Free Trial | View MBS Prices
    Category: MBS
    Share:   
  • 4/1/11
    Fed's Plosser: Must Not Be Sanguine About Tightening
    (Reuters) - The U.S. Federal Reserve "should not be too sanguine" in believing that the time to reverse easy monetary policy is a long way off and that it will be gradual, a top Fed official said on Friday. "A stronger rebound in the economy or inflation than some now expect could require policy actions to be taken sooner and more aggressively than many observers seem to be anticipating," "As much as we may wish it to be so, easing monetary policy cannot eliminate the real adjustments that businesses and households must make in the face of rising oil or commodity prices," he said. He said the Fed has the tools it needs to tighten monetary policy and that it should lay out a systematic exit strategy. He reiterated that an explicit inflation target would be helpful in ensuring inflation expectations remain well-anchored. (Reporting by Kristina Cooke; Editing by Leslie Adler)
    Category: MBS, FED, ECON
    Share:   
  • 4/1/11
    As you might expect, the initial reaction to the March...
    MBS Updates are a service provided to MBS Live! subscribers only.
    Learn More | Start a Free Trial | View MBS Prices
    Category: MBS, alert
    Share:   
  • 4/1/11
    ALERT: L.O. Comp Rules Delayed Five Days. Not a Cruel Joke!
    From NAMB's website: "The US Court of Appeals has granted a stay on Fed's LO Compensation rule. The hearing will be on April 5th. The RULE IS DELAYED UNTIL THE RESULTS OF THE HEARING. This announcement about the delay of the loan originator compensation rule is not an April fool's joke".....What can we do to help NAMB/NAIHP? Let us know.
    Category: MBS, FED, alert, INDUSTRY
    Share:   
  • 4/1/11
    ALERT: DATA FLASH: Employment Situation Report Better Than Expected
    * MARCH GOVERNMENT JOBS -14,000 VS FEB -46,000 (PREV -30,000) * MARCH AVERAGE HOURLY EARNINGS ALL PRIVATE WORKERS 0.0 PCT (CONS +0.2 PCT) VS FEB 0.0 PCT (PREV 0.0 PCT), TO $22.87 VS FEB $22.87; MARCH YEAR-ON-YEAR EARNINGS +1.7 PCT * MARCH FACTORY JOBS +17,000 (CONS. +30,000) VS FEB +32,000 (PREV +33,000) * MARCH AGGREGATE WEEKLY HOURS INDEX FOR ALL PRIVATE WORKERS +0.2 PCT VS FEB +0.5 PCT *** MARCH JOBLESS RATE LOWEST SINCE 8.6 PCT IN MARCH 2009
    Category: MBS, ECON, alert
    Share:   
  • 4/1/11
    Originator Compensation: Still in the Fight
    READ THIS POST: http://www.mortgagenewsdaily.com/channels/voiceofhousing/205699.aspx
    Category: MBS, INDUSTRY
    Share:   
  • 4/1/11
    L.O. Comp Rules Delayed Five Days. Not a Cruel Joke!
    From NAMB's website: "The US Court of Appeals has granted a stay on Fed's LO Compensation rule. The hearing will be on April 5th. The RULE IS DELAYED UNTIL THE RESULTS OF THE HEARING. This announcement about the delay of the loan originator compensation rule is not an April fool's joke".....What can we do to help NAMB/NAIHP? Let us know.
    Category: MBS, FED, alert, INDUSTRY
    Share:   
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  • 4/1/11
    READ THIS POST: http://www.mortgagenewsdaily.com/channels/voiceofhousing/205699.aspx
    Category: MBS, INDUSTRY
    Share:   
  • 4/1/11
    In stark contrast to the week just passed, next week has no auction supply and quite a light schedule of economic data. All you'll get Monday is breakfast with Dennis Lockhart and a bedtime story from Uncle Ben. Those two fed speakers allude to the one commonality between this week and last: TONS of Fed speakers, particularly Lockhart... He's with you again on Tuesday morning, but this time followed by some data at 10:00am with the ISM Non-Mfg Index. Then, it's more Fed speakers (Kocherlakota and Plosser in the early afternoon) before the 2pm release of the FOMC Minutes. Wednesday is light on data again, but guess who's coming for breakfast! Denny Lock! Thursday looks like the busiest day of the week, but seeing as how your morning will only be graced by Fed's Lacker, we think the lone data point of 830am Jobless Claims is little consolation for enduring a breakfast without our precious Dennis.... Oh, and of course, what off-cycle Thursday would be complete without a new supply announcement and the standard issue Fed Balance Sheet/Money Supply? On Friday, Wholesale Trade stands alone in the 10:00am econ slot, and THANKFULLY, the nature of the human experience once again becomes understandable as our hearts are once again locked down by the man, the myth, the legend: Lockhart!
    Category: MBS, FED, ECON
    Share:   
  • 4/1/11
    Can you hear it now? Drip, drip, drip... It's not...
    MBS Updates are a service provided to MBS Live! subscribers only.
    Learn More | Start a Free Trial | View MBS Prices
    Category: MBS
    Share:   
  • 4/1/11
    Across the MBS stack and the yield curve alike, there...
    MBS Updates are a service provided to MBS Live! subscribers only.
    Learn More | Start a Free Trial | View MBS Prices
    Category: MBS
    Share:   
  • 4/1/11
    10yr yields have dropped for a 3rd time now to test...
    MBS Updates are a service provided to MBS Live! subscribers only.
    Learn More | Start a Free Trial | View MBS Prices
    Category: MBS, alert
    Share:   
  • 4/1/11
    The previously mentioned trend channel got a friendly...
    MBS Updates are a service provided to MBS Live! subscribers only.
    Learn More | Start a Free Trial | View MBS Prices
    Category: MBS
    Share:   
  • 4/1/11
    Looking at the FNCL 4.5 chart so far today, we can...
    MBS Updates are a service provided to MBS Live! subscribers only.
    Learn More | Start a Free Trial | View MBS Prices
    Category: MBS
    Share:   
  • 4/1/11
    * 07:50 - FED'S DUDLEY SAYS JOBS GROWTH ENCOURAGING, BUT DON'T WANT TO OVERSTATE HOW FAR WE HAVE COME * 07:54 - FED'S DUDLEY INFLATION EXPECTATIONS STILL SEEM TO BE WELL-ANCHORED, WAGES SUBDUED * 07:55 - FED'S DUDLEY-WE HAVE ABILITY TO EXIT, TOO SOON TO TALK ABOUT HOW
    Category: MBS, FED, ECON
    Share:   
  • 4/1/11
    For a fleeting moment, we just had FNCL 4.5's at...
    MBS Updates are a service provided to MBS Live! subscribers only.
    Learn More | Start a Free Trial | View MBS Prices
    Category: MBS, alert
    Share:   
  • 4/1/11
    NEW YORK, April 1 (Reuters) - A measure of future U.S. economic growth rose slightly in the latest week, a research group said on Friday. The Economic Cycle Research Institute, a New York-based independent forecasting group, said its Weekly Leading Index rose to 130.0 in the week ended March 25 from a revised 129.1 the previous week, originally reported at 129.3. That was the highest level since the week of March 11, when it stood at 130.3 The index's annualized growth rate rose to 6.5 percent from 6.4 percent a week earlier. (Reporting by Padraic Cassidy; Editing by Theodore d'Afflisio)
    Category: MBS, ECON
    Share:   
  • 4/1/11
    * 07:09 - FISHER - U.S. JOBS NUMBERS GOOD, RECOVERY IS SELF SUSTAINING * 07:09 - FISHER - SEEING SPREADS NARROW, LIBERAL LENDING PROVISIONS, SIGNS OF INCREASING SPECULATION * 07:09 - FISHER - SHOCKS FROM JAPAN DISASTERS, MIDDLE EAST TURMOIL NOT LIKELY TO HAVE BIG IMPACT ON OUTLOOK * 07:11 - FISHER - WE ARE MAKING PROGRESS IN TERMS OF A SUSTAINED ECONOMIC RECOVERY, EXPECT TO CONTINUE MOVING IN THAT DIRECTION
    Category: MBS, FED, ECON
    Share:   
  • 4/1/11
    *FED'S LACKER SAYS FED MUST KEEP AN EYE ON POTENTIAL INFLATION RISK *FED'S LACKER SAYS FED TRYING TO THINK THROUGH SEQUENCE OF CURBING MBS PURCHASES, RAISING RATES *FED'S LACKER SAYS DOES NOT THINK FED IS BEHIND THE CURVE ON INFLATION * FED'S LACKER SAYS MUST BE ALERT TO NEED FOR POSSIBLE RAPID WITHDRAWAL FROM STIMULUS MEASURES
    Category: MBS, FED, ECON
    Share:   
  • 4/1/11
    After an exceedingly long and narrow range prevailed...
    MBS Updates are a service provided to MBS Live! subscribers only.
    Learn More | Start a Free Trial | View MBS Prices
    Category: MBS, alert
    Share:   
  • 4/1/11
    (Reuters) - U.S. jobs growth is likely to rise more rapidly in the coming months as the economic recovery gathers steam, but this is not a reason for the Federal Reserve to reverse course, a top Fed official said on Friday. "We are still very far away from achieving our dual mandate of maximum sustainable employment and price stability," New York Federal Reserve Bank President William Dudley said, according to prepared remarks. "Faster progress towards these objectives would be very welcome." The president of the New York Fed has a permanent voting seat on the Fed's policy-setting panel. Dudley's recent views have been "dovish" on inflation. At its last meeting, the Fed unanimously voted to keep its $600 billion bond purchase program unchanged. The program is scheduled to end in June. Dudley was in San Juan, Puerto Rico, to address the E-3 Summit of the Americas. Earlier on Friday the U.S. government released its employment data for March, which showed a second straight month of solid gains and a decline in the jobless rate to a two-year low of 8.8 percent. Graphic: r.reuters.com/kab88r Dudley called the jobs data "good news" but said the Fed would need to see sustained strong employment growth to be sure that a "virtuous circle" -- in which rising demand generates more rapid income and employment growth and leads to more consumer spending -- has become firmly established. While there is still uncertainty about the speed of the labor market recovery, Dudley said, he is "hopeful that jobs growth will increase more rapidly in the coming months." Puerto Rico is part of the New York Fed's district. (Reporting by Kristina Cooke; Editing by Leslie Adler)
    Category: MBS, FED
    Share:   
  • 4/1/11
    * US FEB PRIVATE CONSTRUCTION SPENDING -1.4 PCT, PUBLIC SPENDING -1.3 PCT *** US FEB CONSTRUCTION SPENDING LOWEST SINCE $759.9 MLN IN OCT 1999
    Category: MBS, ECON
    Share:   
  • 4/1/11
    * PRICES PAID INDEX 85.0 IN MARCH (CONSENSUS 83.0) VS 82.0 IN FEB NEW ORDERS INDEX 63.3 IN MARCH VS 68.0 IN FEBRUARY
    Category: MBS, ECON
    Share:   
  • 4/1/11
    After getting as low as 101-08, FNCL 4.5s are back...
    MBS Updates are a service provided to MBS Live! subscribers only.
    Learn More | Start a Free Trial | View MBS Prices
    Category: MBS
    Share:   
  • 4/1/11
    (Reuters) - The U.S. Federal Reserve "should not be too sanguine" in believing that the time to reverse easy monetary policy is a long way off and that it will be gradual, a top Fed official said on Friday. "A stronger rebound in the economy or inflation than some now expect could require policy actions to be taken sooner and more aggressively than many observers seem to be anticipating," "As much as we may wish it to be so, easing monetary policy cannot eliminate the real adjustments that businesses and households must make in the face of rising oil or commodity prices," he said. He said the Fed has the tools it needs to tighten monetary policy and that it should lay out a systematic exit strategy. He reiterated that an explicit inflation target would be helpful in ensuring inflation expectations remain well-anchored. (Reporting by Kristina Cooke; Editing by Leslie Adler)
    Category: MBS, FED, ECON
    Share:   
  • 4/1/11
    As you might expect, the initial reaction to the March...
    MBS Updates are a service provided to MBS Live! subscribers only.
    Learn More | Start a Free Trial | View MBS Prices
    Category: MBS, alert
    Share:   
  • 4/1/11
    From NAMB's website: "The US Court of Appeals has granted a stay on Fed's LO Compensation rule. The hearing will be on April 5th. The RULE IS DELAYED UNTIL THE RESULTS OF THE HEARING. This announcement about the delay of the loan originator compensation rule is not an April fool's joke".....What can we do to help NAMB/NAIHP? Let us know.
    Category: MBS, FED, alert, INDUSTRY
    Share:   
  • 4/1/11
    * MARCH GOVERNMENT JOBS -14,000 VS FEB -46,000 (PREV -30,000) * MARCH AVERAGE HOURLY EARNINGS ALL PRIVATE WORKERS 0.0 PCT (CONS +0.2 PCT) VS FEB 0.0 PCT (PREV 0.0 PCT), TO $22.87 VS FEB $22.87; MARCH YEAR-ON-YEAR EARNINGS +1.7 PCT * MARCH FACTORY JOBS +17,000 (CONS. +30,000) VS FEB +32,000 (PREV +33,000) * MARCH AGGREGATE WEEKLY HOURS INDEX FOR ALL PRIVATE WORKERS +0.2 PCT VS FEB +0.5 PCT *** MARCH JOBLESS RATE LOWEST SINCE 8.6 PCT IN MARCH 2009
    Category: MBS, ECON, alert
    Share:   
  • 4/1/11
    Much Less Data Overall and no Treasury Auctions in the Week Ahead
    In stark contrast to the week just passed, next week has no auction supply and quite a light schedule of economic data. All you'll get Monday is breakfast with Dennis Lockhart and a bedtime story from Uncle Ben. Those two fed speakers allude to the one commonality between this week and last: TONS of Fed speakers, particularly Lockhart... He's with you again on Tuesday morning, but this time followed by some data at 10:00am with the ISM Non-Mfg Index. Then, it's more Fed speakers (Kocherlakota and Plosser in the early afternoon) before the 2pm release of the FOMC Minutes. Wednesday is light on data again, but guess who's coming for breakfast! Denny Lock! Thursday looks like the busiest day of the week, but seeing as how your morning will only be graced by Fed's Lacker, we think the lone data point of 830am Jobless Claims is little consolation for enduring a breakfast without our precious Dennis.... Oh, and of course, what off-cycle Thursday would be complete without a new supply announcement and the standard issue Fed Balance Sheet/Money Supply? On Friday, Wholesale Trade stands alone in the 10:00am econ slot, and THANKFULLY, the nature of the human experience once again becomes understandable as our hearts are once again locked down by the man, the myth, the legend: Lockhart!
    Category: MBS, FED, ECON
    Share:   
  • 4/1/11
    Fed's Dudley Brings Balance to Recent Hawkishness
    * 07:50 - FED'S DUDLEY SAYS JOBS GROWTH ENCOURAGING, BUT DON'T WANT TO OVERSTATE HOW FAR WE HAVE COME * 07:54 - FED'S DUDLEY INFLATION EXPECTATIONS STILL SEEM TO BE WELL-ANCHORED, WAGES SUBDUED * 07:55 - FED'S DUDLEY-WE HAVE ABILITY TO EXIT, TOO SOON TO TALK ABOUT HOW
    Category: MBS, FED, ECON
    Share:   
  • 4/1/11
    US econ growth gauge rose in latest week- ECRI
    NEW YORK, April 1 (Reuters) - A measure of future U.S. economic growth rose slightly in the latest week, a research group said on Friday. The Economic Cycle Research Institute, a New York-based independent forecasting group, said its Weekly Leading Index rose to 130.0 in the week ended March 25 from a revised 129.1 the previous week, originally reported at 129.3. That was the highest level since the week of March 11, when it stood at 130.3 The index's annualized growth rate rose to 6.5 percent from 6.4 percent a week earlier. (Reporting by Padraic Cassidy; Editing by Theodore d'Afflisio)
    Category: MBS, ECON
    Share:   
  • 4/1/11
    Fed's Fisher - wage pressures may be building
    * 07:09 - FISHER - U.S. JOBS NUMBERS GOOD, RECOVERY IS SELF SUSTAINING * 07:09 - FISHER - SEEING SPREADS NARROW, LIBERAL LENDING PROVISIONS, SIGNS OF INCREASING SPECULATION * 07:09 - FISHER - SHOCKS FROM JAPAN DISASTERS, MIDDLE EAST TURMOIL NOT LIKELY TO HAVE BIG IMPACT ON OUTLOOK * 07:11 - FISHER - WE ARE MAKING PROGRESS IN TERMS OF A SUSTAINED ECONOMIC RECOVERY, EXPECT TO CONTINUE MOVING IN THAT DIRECTION
    Category: MBS, FED, ECON
    Share:   
  • 4/1/11
    Highlights From Fed's Lacker
    *FED'S LACKER SAYS FED MUST KEEP AN EYE ON POTENTIAL INFLATION RISK *FED'S LACKER SAYS FED TRYING TO THINK THROUGH SEQUENCE OF CURBING MBS PURCHASES, RAISING RATES *FED'S LACKER SAYS DOES NOT THINK FED IS BEHIND THE CURVE ON INFLATION * FED'S LACKER SAYS MUST BE ALERT TO NEED FOR POSSIBLE RAPID WITHDRAWAL FROM STIMULUS MEASURES
    Category: MBS, FED, ECON
    Share:   
  • 4/1/11
    DATA FLASH: Construction Spending Falls 1.4%
    * US FEB PRIVATE CONSTRUCTION SPENDING -1.4 PCT, PUBLIC SPENDING -1.3 PCT *** US FEB CONSTRUCTION SPENDING LOWEST SINCE $759.9 MLN IN OCT 1999
    Category: MBS, ECON
    Share:   
  • 4/1/11
    DATA FLASH: ISM Index 61.2 versus 61.4 in February
    * PRICES PAID INDEX 85.0 IN MARCH (CONSENSUS 83.0) VS 82.0 IN FEB NEW ORDERS INDEX 63.3 IN MARCH VS 68.0 IN FEBRUARY
    Category: MBS, ECON
    Share:   
  • 4/1/11
    Fed's Plosser: Must Not Be Sanguine About Tightening
    (Reuters) - The U.S. Federal Reserve "should not be too sanguine" in believing that the time to reverse easy monetary policy is a long way off and that it will be gradual, a top Fed official said on Friday. "A stronger rebound in the economy or inflation than some now expect could require policy actions to be taken sooner and more aggressively than many observers seem to be anticipating," "As much as we may wish it to be so, easing monetary policy cannot eliminate the real adjustments that businesses and households must make in the face of rising oil or commodity prices," he said. He said the Fed has the tools it needs to tighten monetary policy and that it should lay out a systematic exit strategy. He reiterated that an explicit inflation target would be helpful in ensuring inflation expectations remain well-anchored. (Reporting by Kristina Cooke; Editing by Leslie Adler)
    Category: MBS, FED, ECON
    Share:   
  • 4/1/11
    DATA FLASH: Employment Situation Report Better Than Expected
    * MARCH GOVERNMENT JOBS -14,000 VS FEB -46,000 (PREV -30,000) * MARCH AVERAGE HOURLY EARNINGS ALL PRIVATE WORKERS 0.0 PCT (CONS +0.2 PCT) VS FEB 0.0 PCT (PREV 0.0 PCT), TO $22.87 VS FEB $22.87; MARCH YEAR-ON-YEAR EARNINGS +1.7 PCT * MARCH FACTORY JOBS +17,000 (CONS. +30,000) VS FEB +32,000 (PREV +33,000) * MARCH AGGREGATE WEEKLY HOURS INDEX FOR ALL PRIVATE WORKERS +0.2 PCT VS FEB +0.5 PCT *** MARCH JOBLESS RATE LOWEST SINCE 8.6 PCT IN MARCH 2009
    Category: MBS, ECON, alert
    Share:   
  • 4/1/11
    Much Less Data Overall and no Treasury Auctions in the Week Ahead
    In stark contrast to the week just passed, next week has no auction supply and quite a light schedule of economic data. All you'll get Monday is breakfast with Dennis Lockhart and a bedtime story from Uncle Ben. Those two fed speakers allude to the one commonality between this week and last: TONS of Fed speakers, particularly Lockhart... He's with you again on Tuesday morning, but this time followed by some data at 10:00am with the ISM Non-Mfg Index. Then, it's more Fed speakers (Kocherlakota and Plosser in the early afternoon) before the 2pm release of the FOMC Minutes. Wednesday is light on data again, but guess who's coming for breakfast! Denny Lock! Thursday looks like the busiest day of the week, but seeing as how your morning will only be graced by Fed's Lacker, we think the lone data point of 830am Jobless Claims is little consolation for enduring a breakfast without our precious Dennis.... Oh, and of course, what off-cycle Thursday would be complete without a new supply announcement and the standard issue Fed Balance Sheet/Money Supply? On Friday, Wholesale Trade stands alone in the 10:00am econ slot, and THANKFULLY, the nature of the human experience once again becomes understandable as our hearts are once again locked down by the man, the myth, the legend: Lockhart!
    Category: MBS, FED, ECON
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  • 4/1/11
    Fed's Dudley Brings Balance to Recent Hawkishness
    * 07:50 - FED'S DUDLEY SAYS JOBS GROWTH ENCOURAGING, BUT DON'T WANT TO OVERSTATE HOW FAR WE HAVE COME * 07:54 - FED'S DUDLEY INFLATION EXPECTATIONS STILL SEEM TO BE WELL-ANCHORED, WAGES SUBDUED * 07:55 - FED'S DUDLEY-WE HAVE ABILITY TO EXIT, TOO SOON TO TALK ABOUT HOW
    Category: MBS, FED, ECON
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  • 4/1/11
    Fed's Fisher - wage pressures may be building
    * 07:09 - FISHER - U.S. JOBS NUMBERS GOOD, RECOVERY IS SELF SUSTAINING * 07:09 - FISHER - SEEING SPREADS NARROW, LIBERAL LENDING PROVISIONS, SIGNS OF INCREASING SPECULATION * 07:09 - FISHER - SHOCKS FROM JAPAN DISASTERS, MIDDLE EAST TURMOIL NOT LIKELY TO HAVE BIG IMPACT ON OUTLOOK * 07:11 - FISHER - WE ARE MAKING PROGRESS IN TERMS OF A SUSTAINED ECONOMIC RECOVERY, EXPECT TO CONTINUE MOVING IN THAT DIRECTION
    Category: MBS, FED, ECON
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  • 4/1/11
    Highlights From Fed's Lacker
    *FED'S LACKER SAYS FED MUST KEEP AN EYE ON POTENTIAL INFLATION RISK *FED'S LACKER SAYS FED TRYING TO THINK THROUGH SEQUENCE OF CURBING MBS PURCHASES, RAISING RATES *FED'S LACKER SAYS DOES NOT THINK FED IS BEHIND THE CURVE ON INFLATION * FED'S LACKER SAYS MUST BE ALERT TO NEED FOR POSSIBLE RAPID WITHDRAWAL FROM STIMULUS MEASURES
    Category: MBS, FED, ECON
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  • 4/1/11
    Fed's Dudley: Jobs growth likely to gather pace
    (Reuters) - U.S. jobs growth is likely to rise more rapidly in the coming months as the economic recovery gathers steam, but this is not a reason for the Federal Reserve to reverse course, a top Fed official said on Friday. "We are still very far away from achieving our dual mandate of maximum sustainable employment and price stability," New York Federal Reserve Bank President William Dudley said, according to prepared remarks. "Faster progress towards these objectives would be very welcome." The president of the New York Fed has a permanent voting seat on the Fed's policy-setting panel. Dudley's recent views have been "dovish" on inflation. At its last meeting, the Fed unanimously voted to keep its $600 billion bond purchase program unchanged. The program is scheduled to end in June. Dudley was in San Juan, Puerto Rico, to address the E-3 Summit of the Americas. Earlier on Friday the U.S. government released its employment data for March, which showed a second straight month of solid gains and a decline in the jobless rate to a two-year low of 8.8 percent. Graphic: r.reuters.com/kab88r Dudley called the jobs data "good news" but said the Fed would need to see sustained strong employment growth to be sure that a "virtuous circle" -- in which rising demand generates more rapid income and employment growth and leads to more consumer spending -- has become firmly established. While there is still uncertainty about the speed of the labor market recovery, Dudley said, he is "hopeful that jobs growth will increase more rapidly in the coming months." Puerto Rico is part of the New York Fed's district. (Reporting by Kristina Cooke; Editing by Leslie Adler)
    Category: MBS, FED
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  • 4/1/11
    Fed's Plosser: Must Not Be Sanguine About Tightening
    (Reuters) - The U.S. Federal Reserve "should not be too sanguine" in believing that the time to reverse easy monetary policy is a long way off and that it will be gradual, a top Fed official said on Friday. "A stronger rebound in the economy or inflation than some now expect could require policy actions to be taken sooner and more aggressively than many observers seem to be anticipating," "As much as we may wish it to be so, easing monetary policy cannot eliminate the real adjustments that businesses and households must make in the face of rising oil or commodity prices," he said. He said the Fed has the tools it needs to tighten monetary policy and that it should lay out a systematic exit strategy. He reiterated that an explicit inflation target would be helpful in ensuring inflation expectations remain well-anchored. (Reporting by Kristina Cooke; Editing by Leslie Adler)
    Category: MBS, FED, ECON
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  • 4/1/11
    L.O. Comp Rules Delayed Five Days. Not a Cruel Joke!
    From NAMB's website: "The US Court of Appeals has granted a stay on Fed's LO Compensation rule. The hearing will be on April 5th. The RULE IS DELAYED UNTIL THE RESULTS OF THE HEARING. This announcement about the delay of the loan originator compensation rule is not an April fool's joke".....What can we do to help NAMB/NAIHP? Let us know.
    Category: MBS, FED, alert, INDUSTRY
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