Author Archives: paul

Good morning!   MARKET UPDATE:  This morning the bond market started off with small gains but a positive Existing Home Sales report quickly reversed that trend and ignited a sell-off on treasuries. The report showed a month to month increase … Continue reading →

Good morning!   MARKET UPDATE:  Ten-year yields surged 37 basis points last week, the most since March 2003, as better-than-estimated employment, home- sales and manufacturing data boosted confidence that the U.S. economy is recovering from its worst slump since the … Continue reading →

Good morning! MARKET UPDATE:  Treasuries enjoyed a solid rally at the end of last week in the face of positive earnings and an improving 2nd Quarter GDP report; so it’s not shocking they are giving back profits this morning.  Oversea … Continue reading →

MARKET UPDATE:  This morning equities rally on positive earnings reports.  The existing home sales report for June increased in line with expectations at an annualized rate of 4.89 million.  Initial jobless claims also increased from last week, but was also … Continue reading →

Good morning!   MARKET UPDATE:  According to the latest economic data, which was just released at the bottom of the hour, housing starts during June totaled 582,000, which was more than the 530,000 starts that were expected. Meanwhile, housing starts … Continue reading →

Good morning!   MARKET UPDATE:  Yesterday’s FOMC announcement was pretty much what was expected; no change to the fed funds rate, recession has slowed the past few months, inflation is not an immediate concern, and they will continue with their … Continue reading →

Good morning!   MARKET UPDATE:  Yesterday, the FOMC (Federal Open Market Committee) began its two-day meeting, with the announcement today at 11:15AM PST. Look for no change to overnight rates, not that they impact 30-yr mortgage rates directly, but the … Continue reading →

Good morning!   MARKET UPDATE:  Treasuries declined yesterday on news that there would be a record $104 billion of auctions next week.  With no economic data released today, the stock market will be the primary influence on the bonds. The market … Continue reading →

Good morning!   MARKET UPDATE:  The major indices have gone on the backslide to trade with moderate losses. Participants are also bidding Treasuries higher. In turn, the benchmark 10-year Note is up a healthy 10 ticks, which has lowered its … Continue reading →

Good morning!   MARKET UPDATE:  This morning the selling pressure hits the stock and commodities markets due to Japan on Friday, and Russia today, reaffirming the strength of the dollar as the international primary reserve currency of choice.  Selling pressure … Continue reading →