Trading action in the rates market yesterday was similiar to the previous session: early morning weakness, followed by a move higher in the lunch hour, which was then lost heading into the close. News and events were fairly positive for the fixed income sector which helped spark the move higher in price...
The theme in the secondary mortgage market this week has been volatility. Prices of mortgage backed securities have moved around a wide range as traders attempt to balance their uncertain long term economic outlooks with optimistic short term sentiment in stocks. This ongoing struggle has mostly insulated...
It was a bumpy ride in the secondary mortgage market yesterday. At the open, MBS prices moved considerably higher, however, the gains did not last long. Most lenders issue rate sheets around 10am eastern and by that time, MBS had given back all of the early morning gains. This forced several lenders...
Two hours before the opening bell stock futures are pointing at a flat open, though the 8:30 release of Jobless Claims could offer some direction. More importantly, markets will be still be digesting news from the Obama administration’s plans to revamp the regulation system, as Treasury Secretary...
Positive data and hopeful testimony from Treasury Secretary Tim Geithner at 10 am haven’t been enough to push markets higher following a lower opening on Thursday. Investor sentiment remains weary from Wednesday’s slide and a sour Jobless Claims report an hour before the opening bell. Roughly...