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salt lake city market news: Daily Bond Report - 08/08/08 01:36 PM
Friday, August 08, 2008
With Fannie Mae announcing that their second quarter earnings were three times less than what analysts expected and their CEO stating that they are expecting it to get worse, it would seem logical that the bond and stock market would follow past trends and would both tank... ummm no. Both the bond and stock market has rallied on from what can only be explained as an oil hangover. Oil has fallen down to the $116 range dropping almost $4 today. Now if they will just drop the price of gas as fast as they raise it (that … (1 comments)
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salt lake city market news: Weekly Trends in the Real Estate Market - 07/08/08 02:18 PM
JOB MARKET
Weekly Jobless claims Jumped 16,000 from the previous week, along with beating estimates by 24,000. Unemployment nationally stayed the same, but with the number of layoffs announced this week it is expected to take a small rise in July. A sure sign that oil is hurting the auto industry and banking is still in the slumps, just take a quick look at the headlines and you will see companies like GM and Indy Mac dramatically reducing their workforce. Locally, we are still way below the nation with 3.2% unemployment and a job growth of 1.4% in Utah. A … (0 comments)
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salt lake city market news: The Daily Bond - 06/20/08 03:15 PM
Friday, June 20, 2008
We started the day off well enough and even had the option of a re-price for the better. With Oil down from its high of the day, and all the major Indices also down, it would be safe to say today is a float day.... But it is not. The Bond is still having a hard time recapturing the momentum needed to push rates down. Currently the bond is up only 3Bp for the day but down 250Bp from when pricing came out. With companies like Citigroup and Washington mutual talking more write-down's and layoffs, and bond … (0 comments)
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salt lake city market news: The Daily Bond Report - 05/29/08 12:08 PM
Thursday, May 29, 2008
Bonds are getting hammered today with the FNMA 5.5% 30 yr down 85 Bp for the day. The big winner today are stocks which meandered this morning for a while between positive and negative territory then shot up over 119 in the last 45 minutes. Moving the market today is the expected .9% improvement in the GDP (gross domestic product). Although it is in line with what analysts feet it would be, and it is more a showing that the weakness of the dollar has us buying less from overseas, it also shows that more countries are buying … (0 comments)
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salt lake city market news: The daily Bond Report for the Salt Lake and Tooele Markets - 05/28/08 12:00 PM
Wednesday, May 28, 2008
Durable Goods came in down .5% which was slightly less than the .7% drop than anticipated. What has killed the bond today is that if you exclude transportation, it came in up a whopping 2.5%. This may be a signal that businesses feel that it is time to stock up for better business. Bonds have taken a beating and are bouncing off the trend line. If we drop past this, we can look for rates to go up more. Here is where what is expected ends... Stocks are down, and oil is hovering around $129 (remember it … (0 comments)
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salt lake city market news: Daily Bond Report - 05/27/08 12:23 PM
Tuesday, May 27, 2008
Since pricing came out this morning the bond is down 4 Bp. The negative there is that it is down 31 Bp since the market opened. This means that most of the damage done to rates happened before lenders came out with rates. In short, if the loan wasn't locked Friday, it may be best to sit and wait today out. Market movers today are mixed. Today consumer confidence came in at 57.2, the lowest in 16 years. Housing data came in very mixed with a jump in sales, but a 14.1% decline in sales price. This … (0 comments)
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salt lake city market news: Weekly Trends for for the Tooele and Salt Lake Real estate Market - 05/13/08 11:48 AM
THE JOB MARKET
Weekly Jobless claims dropped dramatically last week. Initial jobless claims came in at 365,000 down 15,000 from the prior week, and 5,000 less than expected. In Utah, labeled as one of the most recession proof cities in America, unemployment edged down to 3.1% in April. Approximately 24,000 new jobs have been created in Utah over the past year, proof that although we are slowing in our growth, our economy is still much stronger than most of the nation.
BOND MARKET
Remember when bonds go down rates go up
For the most part, the market has taken a neutral … (0 comments)
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salt lake city market news: Daily Bond Report for Tooele and Salt Lake Real Estate Markets - 05/12/08 12:57 PM
Monday, May 12, 2008
Bond Insurer MBIA posted a $2.41 Billion loss in the first quarter. Indymac also came out posting a loss this quarter, then going further by stating that it more than likely show a profit this year. There isn't much economic news out today, but he week is packed full of earning reports and jobless claims. The bond is sitting on the fence today with Oil, which topped $126 today before retreating back to the $124 range, and stocks, which are up 90 today. Tomorrow is already expected to be worse than expected news on the retail side. … (0 comments)
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salt lake city market news: The Daiuly Bond Report for Tooele and Salt Lake City Real Estate - 05/09/08 02:48 PM
Friday May 9th, 2008
If speed racer were real I think he may have to start looking at alternative fuel for the Mach 5. Oil topped $ 126 a Bbl today, once again reaching an all time high. Don't even get me started on the price of Platinum. Mix into this volatile market a much sharper than expected decline in our trade gap, a sure sign that consumer spending weak, and you have the makings of a very bad day for stocks and bonds. In mortgage news, the house passed the bill that is already guaranteed a veto by the president. … (0 comments)
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salt lake city market news: daily Bond Report for Tooele and salt lake Utah - 04/29/08 02:07 PM
Tuesday, April 29, 2008
We broke 2 records today. The S&P/ Case Shiller index dropped the most ever. This report talks about the rate of housing value which dropped 12.7% in February. Consumer confidence also came out today. Although the number beat estimates by .3% the number of people who believe their income will increase in the next 6 months fell to 15.1%... once again the lowest since they started recording this number. Add to that number 112%, which is how much foreclosures rose in the first 3 months of this year and toss in Countrywide's almost 900 Billion loss and bonds … (0 comments)
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Karl Menzer Tooele Utah Real Estate Lender
Tooele,
UT
More about me…
karlmenzer.com
Address: 36 N Main St., Tooele, Ut , 84074
Office Phone: (435) 849-0212
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