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While benchmark interest rates continue to chop around in a contained range, mortgage-backed securities have moved sideways, failing to make much progress in either direction. Although we have experience a few moments of added volatility, tight trading ranges have kept and generally "topped out"...
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Mortgage rates fell a few basis points yesterday as benchmark Treasury yields moved lower in the range. The extended rally in the rates market helped MBS prices tick higher which eventually resulted in lenders repricing for the better. An above average turnout at the 5yr note auction combined with an...
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Maybe the markets will find some sort of impetus to get directional tomorrow, but so far this week, Monday's extension of Friday's rally merely set us up to bounce back and forth within a range as we wait for all the shoes to drop. Sure, shoes have BEEN dropping already this week, but for every...
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The AM So Far... ADP worse than expected at -254k GDP Better than expected at -.7 vs. consensus of -1.2 deflator unch (cons unch), prev unch pce price index +1.4 pct (cons +1.3), prev +1.3; core pce +2.0 pct (cons +2.0), prev +2.0 consumer spending -0.9 pct (prev -1.0), durables -5.6 pct (prev -5.8)...
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Gross Domestic Product ― the measure of total U.S. output of goods and services from ocean to ocean ― contracted at a slower pace in the first quarter than originally reported, the Commerce Department said on Friday. Looking ahead, the nationwide contraction appears to be slowing. The Q1 report indicated...
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U.S. advance GDP results were much worse than consensus forecasts in the first quarter, on the back of plummeting private investment and as trade levels continued to shrink. Advance GDP for the first quarter of 2009 contracted 6.1% against expectations of a 4.7% decline. The previous quarter's 6...
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The preliminary revisions to U.S. GDP were worse than expected for the fourth quarter of 2008, contracting by -6.2% against forecasts for a 5.4% decline, the Bureau of Economic Analysis reported on Friday. Personal consumption, which accounts for 70% of GDP in the U.S., fell by 4.3% in the quarter, compared...
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A second look at U.S. Q4 GDP, followed by the Chicago PMI and some Fed speak, tops the economic news of the day while Canada will receive its fourth quarter current account balance. At 8:30 a.m. EST, Statistics Canada will release its fourth-quarter current account of the balance of payments. Economists...
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Kathleen Hays of Bloomberg News give more on the preview of the fourth quarter gross domestic product and what will be expected and what is going to tell us about what is going on in the economy right now. Next phase of the reccession is even weaker business investment. (Morning Call)
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The advance U.S. GDP report came in better than expected for the fourth quarter of 2008, contracting by 3.8% against expectations of a 5.5% decline, according to the Bureau of Economic Analysis on Friday. The previous quarter's 0.5% contraction was unrevised. The negative figure is the third decline...