economic news: The Mortgage market has been volatile, do you agree? - 02/22/08 08:34 AM
There were no economic reports scheduled for release today,  however at 1:30pm ET, Dallas Fed President and voting Fed member Richard Fisher was scheduled to speak.  I kept an eye on him, because the last time he made comments concerning inflation, he shook the markets sending mortgage Bonds to a -200bp decline. 
I have included a couple of quotes that will give you an idea of today's event.
"The 12-month number for the CPI is running at a very high level ... and the components of that (rise) are worrisome," Fisher said, referring to the U.S. Consumer Price Index.
"There are some risks that we're … (2 comments)

economic news: It is not what you say, but how you say it! - 02/05/08 05:51 AM
The early release of the ISM Report caught traders by surprise. How problematic is that?
First, the 44.6 reading was waaay below expectations, considering that Economists were expecting a 53.0. This data indicates that the service sector is shrinking for the first time in almost five years, implying  economic slow down.
Second,the markets are trying to figure out if the slowing in the manufacturing and the service sector is a clear indication that we are indeed heading towards recession. By now this is no surprise, however the cause of uncertainty this morning was a combination of bad news and how they were … (2 comments)

 

Joseph David

CMPS

Fountain Valley, CA

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Clarion Mortgage Capital, Inc.

Office: (714) 786-4516

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