Market Outlook
Wednesday, January 21, 2009
Price Trend: Negative
Price Volatility: High
Recommendation: Cautiously Floating
_________________________________________________________________
Current Conditions: Today's Economic Data (all times PDT)
FNMA 4.5 101-12 (-3) None
GNMA 4.5 101-17 (-2)
10yr Yield 2.471%
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Commentary:
This morning's market looks very similar to the way it did yesterday at this time. Treasuries are down significantly and mortgages are down slightly. Once again there is no data being released today. Stocks have been taking a beating over the past week but bonds have not benefitted from that move. The Dow is actually up over 100 points this morning, but bonds haven't really reacted to that either. With a lack of clear outside price influences, price action will likely be controlled by technical trading.
This Week's Calendar:
Date |
ET |
Release |
For |
Actual |
Briefing.com |
Consensus |
Prior |
Revised From |
Jan 22 |
08:30 a.m. |
Dec |
|
610K |
615K |
616K |
|
|
Jan 22 |
08:30 a.m. |
Dec |
|
605K |
610K |
625K |
|
|
Jan 22 |
08:30 a.m. |
01/17 |
|
540K |
548K |
524K |
|
|
Jan 22 |
11:00 a.m. |
Crude Inventories |
1/16 |
|
NA |
NA |
1.14M |
|
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