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Home > Posts > Tag: sales

Currency wars is what this is all about and the Fed is getting exactly what it hoped for, consumer expectations of rising inflation to shut the door on deflation

Currency wars is what this is all about and the Fed is getting exactly what it hoped for, consumer expectations of rising inflation to shut the door on deflation. This was evidenced in last week’s Michigan Sentiment Survey. With QE2 priced in “before” it happened and the negative connotations mentioned above, treasuries have continued to be slaughtered, sending credit costs higher, doing nothing to stimulate the economy. Look for the Fed to try and talk rates back down.

2010-11-15T15:24:28-06:00November 15, 2010|Austin Mortgage Market|

Bonds, notes, and mortgage backs are flat with volume running at its lowest level in 3 weeks

Bonds, notes, and mortgage backs are flat with volume running at its lowest level in 3 weeks. The tug of war that has us trapped pits stocks that just won’t fade (Dow up 45 points) on one side and Greek sovereign debt issues that just won’t go away on the other. Matter of fact, Fitch just downgraded their debt of BBB-, right where subprime paper should have been in 2006 when the rating agencies had it at triple A.

2010-04-09T13:06:50-05:00April 9, 2010|Austin Mortgage Market|

Earlier today, Consumer Income hit the skids, falling 1.3% while Spending rose .4%. The Income component was the largest monthly decline since January 2005. Pure and simple, it reflects declining wage and salary disbursements.

From our technical view, the chart looks more like “crack the whip” than any type of symmetrical trading. Last Friday caught a bid from month end buying (portfolio extension needs), Monday gave it all back as stocks traded and closed above 1000 on the S & P chart, and today’s rally has been derailed by Pending Home Sales.

2009-08-04T18:33:56-05:00August 4, 2009|Austin Mortgage Market|