My "analysis": nobody's buying except for bargain hunters, and even they are mostly at the beach already; in terms of MBS prices, this week may as well have not happened, and w/ tons of supply next week, next week will probably end up at about the same place as well (unless auction demand is light and stocks continue to rally, in which case rates will be hurting).

Charts tend to make more sense when you've not had the late morning Mojito to start the weekend. But let's just say the patterns all match when your flip some on top of others.....

Can we still say Range Bound? Junior traders stuck in the office with instructions to not touch the toys.

I think it goes something like this.....early morning trading was slightly volatile due to the digestion of a few earnings reports but in typical fashion traders checked out early and left the JV squad in charge of the office....we are seeing some late afternoon bargain buying to shore up positions while traders are at the shore......looks like we will be range bound until Monday and it's anyone's guess after that....peace out....

I think this is the flattening of the yield curve you were talking about the other day.

It's a trader's world... and we're all living in it. MBS is taking direction from the stock market, and now we're in wait and see mode until the next set of news comes to either confirm current price levels or send us in a new direction. That's my novice guess anyway.

Doesn't that look like a classic "hanging man" today on the S&P? Looking for a reversal. It would be good for mortgages to see the s&P back below 900. Or, as at the crap table when no one can make a point... "we're due."

Ac milan beats Chelsea tonight 1-0 thats what i get have a good weekend

Everyone is tired of being angry. Just like to see some stability.

UST 10 yr chart is actually an embedded incremental graph showing the number of loans falling out since implementation of HVCC VOLUME actually represents plummeting household wealth as HVCC decimates market values artificially across the country 4.5 MBS chart is actually the vacant hollow shadow of the founder of HVCC's skull revealed by a new brain activity machine developed by founders of MND US 10 year in actual verified numerical values registers the cumulative IQ level of mortgage knowledge of senators and congressman used in drafting mortgage and mortgage banking related legislation S&P 500--Opening graph for new reality show coming in fall 2009 called "Economic Fantasy Island"...Mad Money guy will open show with "De Plane, De plane"...talking heads from all cable TV financial shows will be featured-will feature live footage of "Hurricane Correction" and render many of the island occupants missing for months... Yellow, orange and purple lines monitor life support levels of large zombie banks that just reported miraculously good earnings without reference to the Frankensteinian government and taxpayer intervention that continues to allow them to exist... Or something like that...

Is this the game on the Price is Right where the yodeler falls off the cliff if they can't guess the right price?

Getting angry at market behavior is like getting angry at the weather. What's the point?

Disclosed Rate x.xx on 07/21 after hours. Came in to lock 07/22 (Errrrr!), looked again 07/23 & 07/24. Can a guy catch a break? I don't have anything left to sell. I think I need to start locking loans before I even get commitment at the disclosure table. Is that what it's come too?