Market Update 1-28-11 - 01/28/11 12:08 PM
GDP, our country's gross domestic product, grew 3.2% in the 4th quarter 2010, a touch below expectations of 3.6%.  Consumer spending gave the number its biggest kick, up 3.0%.  That component had the biggest gain in more than four years.  The Employment Cost Index, another component of GDP, rose .4% which was the second smallest gain on record.  Traders follow that number closely as it has a direct correlation to wage inflation.  The University of Michigan Sentiment Survey was also released, dipping .3 to 74.2.  The current conditions index did the trick, falling nearly 4 points as American's question the need … (0 comments)

Market Update 1-27-2011 - 01/27/11 02:53 PM
Thursday, January 27, 2011

Market Update - 01-27-2011 - 7 Year Note Auction  
As we suspected, the early morning trade was being sat on by traders looking to buy the auction cheap.  It's one of the things money managers try to do, talk or sell the market down so they can buy auction paper at the best level possible.  Check out the results; 29 billion came at a yield of 2.744% with 52.1% going to the Indirect Bidders (very good).  Bid to cover a respectable 2.85 to 1 bid and like the 5 year auction, the issue priced through … (0 comments)

Market Update 1/26/2011 - 01/26/11 03:44 PM
Market Update - 01-26-2011 - FOMC Decision  
The FOMC kept interest rates at 0% to .25%, unchanged from the prior period. The policy statement had only modest changes, generally confirming improving economic conditions albeit insufficient to bring down unemployment in a still struggling employment picture. QE2 is expected to run full term through June while prospects for long term inflation remain benign. The report is spot on from what the market expected, leaning on the ‘dovish" side if you're looking for a bias. Post release, the market rallied a few 32's but just like the 5 year note auction, we … (0 comments)

Mortgage Market Update 1-14-2011 - 01/14/11 01:55 PM
This morning's major releases include CPI and Retail Sales. The Consumer Price Index rose 0.5% and Core CPI (ex food and energy) rose 0.1%. Headline CPI rose 1.5% in December year over year, which is the largest rate of increase since December 2009. However, core CPI increased only 0.8% year over year in December, the same pace of November. The biggest increases in prices came from energy-related expenses and gasoline, up 4.6% and 8.5%. Retail Sales rose at a less-than-expected rate of 0.6% in December. Strip out auto and gas, retail sales rose only 0.4% in December and November was revised … (1 comments)

Inside Lending Monday Newsletter - 01/11/11 03:29 PM

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Craigigl

Craig Igl

Craig Igl 608-662-9116

Madison, WI

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Wisconsin Bank & Trust

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