Wealth of Women
How Did the Employment Report Affect Mortgage Rates?
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Today's Employment Situation Report (ESR) placed a large and forceful shoe-print squarely on the backside of recently higher rates! Granted, we're only speaking in a context of a few days, but to experience definitive improvements in rates on ESR day has historically meant good things for interest rates in the week's that follow. That doesn't mean rates will necessarily KEEP getting better, but this data definitely served an important purpose in MODERATING THE PACE AT WHICH MARKETS THINK THE ECONOMY IS IMPROVING. As we discussed yesterday, economic prosperity generally coincides with rising interest rates. When economic optimism is overly...optimisitc...it can create undue upward pressure on mortgage rates. See the month of December! This helped confirm a stop in that bleeding! Plain and Simple...()Forward this article via email: to someone you know that may want to read it.
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Two-Headed Labor Market Presents Problem for Bond Investors
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Happy Friday. The Employment Situation Report came this morning. And it went....... The highly-anticipated official monthly read on the health of the labor market was seen as sorta "EHH". Jobs were created. But not enough to excite economists OR confirm expectations for a faster recovery. We didn't learn much. Here is a comment from the release... THE EMPLOYMENT SITUATION – DECEMBER 2010 The unemployment rate fell by 0.4 percentage point to 9.4 percent in December, and nonfarm payroll employment increased by 103,000, the U.S. Bureau of Labor Statistics reported today. Employment rose in leisure and hospitality and in health care but was little changed in other major industries. The 0.4% dip in the unemployment rate will be a headline grabber when your nightly news airs this evening. I...()Forward this article via email: to someone you know that may want to read it.
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The Week Ahead: Employment Situation Report, Fed Minutes, Five QEII Coupon Lifts
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Happy New Year. Welcome to MND 3.0! After 12 months of planning and hard work, we are very excited to launch the updated site. We've added and improved many features in the latest version of the MND platform. HERE is a list of new tools. The week ahead offers several important economic events with the most influential data to be released on Friday morning...the Employment Situation Report. This data is expected to dictate the direction of mortgage rates over the coming weeks. That isn't the only news on the horizon though. We'll get an update on manufacturing conditions from the ISM on Monday. The FOMC Minutes from the December 14th Fed meeting will print on Tuesday. Then ISM will update us on non-manufacturing business conditions on Wednesday. December MBS prepayment speeds hit the tape on...()Forward this article via email: to someone you know that may want to read it.
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Rates Chop Around Well-Defined Range. Liquidity Still Lacking. Flows Still Thin
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With Japan, China, and the U.K. out on holiday it wasn't a big surprise to see domestic bond traders looking for a retest of last Wednesday's low volume Treasury rally. Especially after 10s crossed through 3.30% on Friday afternoon, leaving little room to rally without a clear shift in investing outlooks. This behavior once again highlights the exaggerated influence of thin trading conditions and a lack of liquidity. We do however look for the bond market to paint a clearer picture of its strategic bias in the day's ahead as attendance picks up and sidelined money goes back to work. The release of the December Employment Situation Report will likely play the biggest role in directional motivations but we've also got FOMC Minutes tomorrow and five Fed buybacks in between..not to mention a sleeper...()Forward this article via email: to someone you know that may want to read it.
Read more: Rates Chop Around Well-Defined Range. Liquidity Still Lacking. Flows Still Thin
Loan Officer Professional Privacy Gone; New Mortgagee Letters; Covered Bonds Coming?; BoA Settles with GSEs. Allstate & MBIA Still Suing;
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"Dear Santa: Next year all I want for Christmas is thick hair and a thin body. Please do not mix them up like you did this year." Goldman Sachs doesn't mix up many things, and the company is in the news this morning for investing in Facebook . The investment, by the way, puts the value of Facebook at $50 billion (with a "b") dollars. Chase and Wells' market cap is around $165 billion, for comparison; BofA is at $134 billion. Certain towns around the nation have installed cameras to record the license plates of traffic into and out of their areas. The day may come when chips in our cars note our speed and automatically trigger sending us a speeding ticket. But for now, parents of teenagers have this to control car activities: CONTROLLING TEEN DRIVING The reason I bring up this privacy issue...()Forward this article via email: to someone you know that may want to read it.
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