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bullish price action

A price change for the worse is probably moving to the front burner

Just a quick update. Stateside traders were greeted with bullish price action as Japan’s growth fell short of expectations, pushing the 10 year note up 1 point before the bell. The National Association of Home Builders Confidence Index didn’t help, falling to 13, its lowest level since March 2009.

August 16, 2010|Austin Mortgage Market|

Bonds, notes, and mortgage backed securities are doing quite well given the plus 100 point gain on the big board

Bonds, notes, and mortgage backed securities are doing quite well given the plus 100 point gain on the big board. 10 year notes off 7/32’s (yield 3.70%) and MBS off 3/32’s tell the tale of the tape. Technically, a series of higher highs and higher lows are developing on the chart. This is typical of bullish price action and will help to limit the downside (selling).

January 19, 2010|Austin Mortgage Market|