economic news: Today's Abbreviated Market Recap!!!! - 07/24/08 10:06 PM
Good Evening Sports Fans!
Here's a recap of the heavys determining today's market. I picked most of this off of Bloomberg, but a great day for interest rate improvements nonetheless....
•§ DJIA was down 283 points
•§ Oil was up $1 to $125.45
•§ With the exception of Radian and Thornburg, … (0 comments)
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economic news: Bernanke's Commentary - - Today is just like 1975 - 06/04/08 09:30 PM
Bernanke spoke......his BOTTOM LINE: In a speech focusing on two key areas -- energy and productivity -he contrasts today with 1975, the year he graduated from Harvard. For the most part, with appropriate caveats, his view on today looks more constructive. News wire headlines focusing on the fact that inflation is … (0 comments)
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economic news: Inflation Today translated for the average Joe - - - crazy stuff here! - 05/15/08 04:09 PM
Some notes regarding inflation enclosed.
National trucking/transportation companies are now charging a 31% gas surcharge for all deliveries. ~It costs 31% more to deliver goods than it did last year!
To keep the prices of Oil in perspective:
Current costs ~$125/barrel for Oil.
19.5 gallons of gasoline are produced from each … (2 comments)
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economic news: New Government Action to Rescue the Housing Market Just Happened - 05/09/08 02:42 PM
Fannie Mae Changes Policy and Pricing on "Conforming" Jumbos
Fannie Mae announced a series of new initiatives called "Keys to Recovery" in its first quarter 08 report. This effort is geared toward basically providing liquidity, stability, and affordability to the housing and mortgage markets for the long term, keeping struggling borrowers … (2 comments)
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economic news: Time To Dominate - No Whiners Please - 05/09/08 10:12 AM
Just got back from the awards presentation for our Company headquarters at Cherry Creek Mortgage. A few nice things that I experienced. First, I was able to go to our corporate offices, have drinks with the staff, leaders and heirarchy of Cherry Creek. Later that night they had the awards dinner. … (8 comments)
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economic news: Markets are Like a Wild Disney Ride - 03/13/08 05:28 PM
Weekly jobless claims data reflected a mixed activity. Initial claims (week ending March 8th) were unchanged at 353k, relative to the estimate of 357k and last week's upwardly revised level of 353k. The prior week's level was originally reported as 351k. As you are well aware, we like to look at … (2 comments)
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economic news: Today's Market News - 02/12/08 09:24 AM
Bond prices rose a touch on Monday in quiet trading. The big news of the day came from insurer AIG who said that its prior accounting for credit default swaps was in error and the previously reported $1.6 billion in write-downs really turned out to be $4.88 billion. The error was found … (0 comments)
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economic news: Today's Market.... - 02/06/08 09:22 AM
Although Tuesday was billed as "Super Tuesday" for the Presidential nominating process, for the economy and stocks, it was everything but a super day. The ISM non-manufacturing index, which has grown in stature over the past couple of years even though it still carries less weight than its sister report, produced … (2 comments)
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economic news: Today's Market Commentary - 02/04/08 03:42 PM
The yield curve shifted surprisingly little on Friday despite major economic news. Yields fell two basis points or less across the Treasury note and bond curve. The December payroll report was very weak, posting a decline in jobs for the first time since 2003. The ISM manufacturing index rose to 50.7, … (0 comments)
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economic news: Today's Market Commentary - 01/28/08 10:06 AM
Today's Market CommentaryYields fell 15bp across the curve on Friday as stocks resumed their plunge following two straight days of gains. For the week, stocks ended higher, thanks to the monetary and fiscal stimulus expectations, and bond prices ended a bit higher. Bond yields and stock prices ended the week well … (0 comments)
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economic news: 730,000 FHA Limit? Unreal....stay tuned...sooner than later - 01/25/08 08:39 AM
Significant action is being taken by the federal government to stabilize the housing market - Hot off the press from our industry cooperative partners As part of the economic stimulus package being negotiated by House Democrats and the Treasury Department, Fannie and Freddie loan limits will increased for one year up … (0 comments)
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economic news: Today's Market Commentary....rates on the rise!!!! The Market Whiplash - 01/24/08 09:20 AM
The New York Times called yesterday "Whiplash Wednesday", a term which best describes action in the stock and bond markets amid extremely high volatility which is not likely to subside soon. The Dow spanned a nearly 600 point range, being down sharply in the morning but closing up nearly 300 points … (7 comments)
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economic news: Today's Market Commentary....rates continue to drop - 01/23/08 09:54 AM
Yields fell across the curve on Tuesday as stocks plunged, expectations of a recession rose, and the Fed cut the Fed Funds and Discount rates by 75bp, the largest single cut since 1982. While most of the move in Treasuries occurred before the Fed's 8:20am EST announcement, volatility continued throughout the … (10 comments)
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economic news: Here's the info as it is set forth by the Federal Reserve.... - 01/22/08 08:50 AM
Release Date: January 22, 2008
For immediate release
The Federal Open Market Committee has decided to lower its target for the federal funds rate 75 basis points to 3-1/2 percent.
The Committee took this action in view of a weakening of the economic outlook and increasing downside risks to growth. While … (3 comments)
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economic news: World Markets Reel...Rates are Rocking....Time to get this party started!!! - 01/22/08 08:29 AM
Fasten your seatbelts...Yields fell a touch on Friday with the curve steepening. The UofM consumer confidence index rose unexpectedly but remains well below its averages. Yesterday, US markets were closed but global stock markets were open and plunging. The global meltdown continued overnight and brought most major world stock markets down … (2 comments)
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economic news: Today's Market Commentary - Wild ride yesterday good for Lenders - 01/18/08 08:41 AM
Stocks plunged and bonds soared on Thursday amid weak economic data and a Fed view that the situation is bad enough to warrant a major economic stimulus package. The Philadelphia Fed's manufacturing index fell to -20.9, its lowest level in six years. Expectations were for a level around -1.0, not too … (0 comments)
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economic news: Today's Market Commentary - 01/17/08 10:18 AM
Bond prices fell a bit on Wednesday and stocks did better, especially bank and brokerage stocks. The December report on industrial production and capacity utilization was a touch better-than-expected. The Fed released its Beige Book, prepared ahead of the end-of-month FOMC meeting. It painted a brighter picture of the economy than … (0 comments)
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economic news: Today's Market Commentary - Analysis - 01/16/08 10:43 AM
Bond prices rose on Tuesday as stocks plunged. By the close, the Dow was down 277 (2.17%) and the S&P Financial Index, lead by its biggest weighting Citigroup, fell 3.74%. It was clearly a bad day for stocks and especially financials as the subprime and related hits kept coming and the … (3 comments)
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economic news: Today's Market Analysis - 01/15/08 08:48 AM
Bond prices moved little on Monday despite a strong day in the stock market. Bond market rumors focused on heavy losses at Citigroup. This morning, those rumors were mostly confirmed with the bank's announced fourth quarter loss which was dominated by a $17.4 billion subprime charge. Citi will cut its dividend … (0 comments)
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economic news: Today's Market Commentary - 01/14/08 09:58 AM
Still benefitting from perceived economic softness and echoes of Fed Chairman Bernanke's words, bond prices rose on Friday and expectations for Fed easing soared. While the 11-14bp drop in short and intermediate term Treasury yields was big news, the decline in Fed Funds futures' yields was even more impressive and surprising. … (0 comments)
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economic news: Today's Market Analysis - 01/10/08 08:49 AM
Yields rose a few basis points on Wednesday as the bond market took a break from its recent rallies. Stocks, especially financials, had another wild ride, falling sharply throughout the day before being rescued just before the close. There were no economic reports released. St. Louis Fed President Poole, a non-voter … (2 comments)
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economic news: Year End Summary....pretty crazy no matter how you slice it!!! - 01/02/08 11:37 AM
1. After several twists and turns, the story that we laid out a year ago has indeed played out -- a persistent downturn in the housing market that persuaded the FOMC to ease policy aggressively in order to reduce the risk of a sharp economic downturn. We believe that this story has further … (2 comments)
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economic news: Today's Market Commentary - 01/02/08 11:16 AM
Today's Market CommentaryAs stock prices fell, bond prices rose on Friday to close the year on a strong note. It was the third straight day of gains. The only economic news, existing home sales, unexpectedly rising and demonstrating stability with sales being virtually unchanged for the past three months even as … (0 comments)
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economic news: Today's Market News...really ain't that all new - 12/13/07 09:43 AM
Today's Market CommentaryThe past 48 hours have been among the most confusing in years as the Fed, by delaying its announcement of its liquidity facility for 18 hours after the FOMC meeting, created wild market swings and added to concerns that they are behind the curve. Bond prices plunged on Wednesday, … (1 comments)
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economic news: What's caused the rebound in our mortgage markets today? - 12/12/07 02:01 PM
Stock markets were disappointed in the Fed's Tuesday policy decision, mainly that the Discount rate (the rate the Fed lends to banks) wasn't trimmed by 0.5 percentage point. The takeaway was that the cut was insufficient given the worry over further damage to the financial sector. The gains in bonds were … (0 comments)
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economic news: Fed Makes it's Move....Merry Christmas - 12/11/07 01:26 PM
Borrowers Get Year-End Gift from Fed The Federal Reserve lowered interest rates today for the third straight meeting of the FOMC. What does this mean? Well, if you're looking to capture the best home loan rates, you need to act now. For those with an application already in process, you should … (0 comments)
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