Markets continued to show a muted response to the Dubai World debt problems

Yesterday, markets continued to show a muted response to the Dubai World debt problems and many markets essentially returned to trading levels seen before last Wednesday’s announcement.  The Dubai situation appears to be more of an aftershock to the past years’ financial crises rather than the start of a new wave.  Bond prices were a touch higher yesterday and short-end of the curve continued to post the biggest gains, further steepening the curve.  The minor range that is forming this week has not done any damage to the larger bullish conditions that are active on daily charts.  With the acceleration from late last week, we got a little ahead of the moderate pace that had been driving prices higher since late October.  Stalls near current levels should allow us to resume that larger bullish trend at a more sustainable pace by the end of this week.   Stocks are up around 115 points today while we see mtg backs slightly off about 5 to 6 ticks.  10yr is currently trading around 3.245yld.

About Max Leaman Austin Mortgage

GREAT RATES, LOW FEES, CLOSE ON TIME™ ---- 2012 Ranked #1 Austin Residential Mortgage Lender (Austin Business Journal) 2010, 2011 & 2012 Five Star Professional (Texas Monthly) 2009, 2010, 2011, 2012, 2013 PrimeLending Chairman's Circle Award 2009, 2010, 2011, 2012 Scotsman Guide Top Originator (Top 200 Mortgage Professionals in U.S.A.) Better Business Bureau "A+ Rating" National Lender Rankings (Scotsman Guide): Top Purchase Volume (No. 10) Most Loans Closed (No. 32) Top Dollar Volume (No. 88)

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