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MARKET WRAP – Wednesday August 26, 2009
Today’s 5 yr note auction was much better than recent 5 yr auctions. It had a yield of 2.494%, the cover was 2.51 to one ratio and indirect bidders took 56.4% of it. The previous 5-yr went off pretty ugly, with the fat tail, the [...]
Interest Rate Update Wednesday August 26, 2009
Starting off this morning at 7:00 AM the weekly MBA mortgage applications report; overall apps increased 7.5% last week, re-financings led the way, up 12.7% with purchase apps up 1.0%. Re-financings accounted for 56.5% of all apps last week according to the MBA. The four week [...]
Market Wrap August 21, 2009
For the first four days this week the bond and mortgage markets made nice moves to lower rates and higher prices. Today almost all of it went down the drain with interest rates backing up on the better July existing home sales and the continual increase in [...]
Interest Rate Update – Friday August 21, 2009:
Markets opened generally flat this morning in the interest rate area; the stock market futures trading was pointing again to another better open. At 8:30 the 10 yr note was +3/32 as were mortgage prices; at 9:00 the 10 yr -1/32 and mortgages also -1/32, the [...]
Interest Rate Review – Thursday August 20, 2009
There was hardly any volume in the financial markets today. Treasuries, MBSs and the stock market saw no real volume as the summer doldrums continue. Tomorrow we expect volume levels to be even thinner. The rate markets did manage more improvement today mostly coming this afternoon. The technicals [...]
