Overall, we see the stock market as moving away from any notion of a double dip, instead feeling a little giddy about taking on more risk. Reason being is that traders view one of two scenarios playing out, both good for stock prices.
Stocks visiting good support and bouncing have added pressure to the fixed income complex as well. Bigger picture does not support a move to higher Austin interest rates, just one that adjusts value to a more neutral level.
In this market, best bet for Austin mortgage borrowers is to take advantage of the historic low levels of Austin mortgage rates
The bottom line is that today’s report does nothing to encourage the markets that employment is in fact improving at a faster pace. It is acknowledged that the labor market is not bleeding jobs at this time but the pace of growth needs to pick up to +200k to +300k to represent a change in the unemployment situation in the U.S.
In what looks to be a repeat of yesterday, stocks [...]
This typically will tell us that buyers of treasuries still have the advantage but will need a little giddy up go to stay at these levels. Good time for Austin mortgage borrowers to put both hands on the wheel.
High probability of a worsening Austin mortgage price change. We see the tactical bias as being defensive with conditions and chart work pointing to a more bearish outcome. Borrowers are advised to stay with this market and don’t let it put you to sleep. It could be costly.
We will continue to trade the small range that has been with us for a couple weeks now, swinging from high to low, low to high depending on stocks and ‘headlines”. Nothing huge here as we see Austin mortgage rates remaining low well into the third quarter.
Gold hit a new high this morning of $1254.50 on European currency and equity concerns. Fed Chair Bernanke hit the wire as well, trying to assure the markets that the US will avoid slipping back into recession. Doesn’t seem as many are listening given another round of early stock gains followed by selling into strength. Stock bulls are doing their best to defend the 1040 level in S&P’s (currently 1046) but need to move higher or will most likely fall under their own weight with a new target of 980.
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