“Mortgage Bonds are near unchanged and are hovering near key technical resistance levels at the upper end of the short term trading range, despite a big rally in the Stock markets. In economic news, ADP reported that private employers continued to add workers at a brisk pace in September, while the Chicago Manufacturing Index came in lower than expected. With Mortgage Bond prices at frothy levels and ahead of Fridays big headline risk in the September Jobs Report, I will continue to recommend locking. If anything changes, I will get back to you.”
“Mortgage Bond prices continue to trade between two key technical levels with no clear signs of a breakout higher. In economic news, Consumer Confidence was reported better than expected for September, while the Case Shiller 20-city Index showed that home prices continue to produce steady gains. I will continue to recommend locking due to Mortgage Bond prices not being able to push higher, despite the bearish tone in the Stock markets. If anything changes, I will get back to you.”
Mortgage Bonds begin the week modestly higher, despite lower Stock prices. Supporting Bond prices was a tame inflation report from the Core Personal Consumption Expenditure, which measures prices paid by consumers for goods and services. Mortgage Bond prices have not been able to make any meaningful push higher in the past month, this despite the recent plunge in Stock prices. I will continue to recommend locking until such time Mortgage Bonds can rise above several key technical levels. Have a great week!
“Mortgage Bonds are being pressured lower by surging Stock prices after Fed Chair Yellen lifted some uncertainty surrounding interest rates when she said last night rates are likely to rise by years end. Also pressuring Bond prices lower was a strong reading from final second quarter Gross Domestic Product. With Mortgage Bond prices moving lower and still near frothy levels, I am recommending locking headed into the weekend. If anything changes during the course of the day, I will get back to you. Have a great weekend!”
“Mortgage Bonds are higher, getting a boost from downward pressure in the U.S. Stock markets, but continue to battle stiff overhead resistance. In todays economic news, Weekly Initial Jobless Claims and Durable Orders came in near expectations and had little impact on trading. I am recommending carefully floating as Mortgage Bonds try to put together a successful rally, due to the decline in Stocks. If anything changes, I will get back to you.”
“Mortgage Bonds continue to be trapped below stiff overhead resistance levels, which have acted as a barrier for higher prices since early May. There were no economic reports due for release this morning. The Treasury will be selling a boatload of Treasury Notes today as the added supply could also be capping Bond prices. With Mortgage Bond prices near the highs not seen since early May, I will continue to recommend locking. If anything changes, I will get back to you.”
“The markets continue to flip-flop with the risk off trade full steam ahead this morning as Treasury prices soar, while Mortgage Bonds are modestly higher. Stocks are plunging today as investors seek clarity from the Fed after its decision to hold interest rates near zero percent. In addition, falling commodity and oil prices are weighing on the equity markets. However, Mortgage Bonds are just marginally higher being capped by a stiff level of overhead resistance. With Mortgage Bond prices near the short term highs, I will continue to recommend locking at the current frothy levels. If anything changes, I will get back to you.”
“Mortgage Bonds are trading lower to begin the week as Stock prices bounce back following the big sell-off after the Fed statement on Thursday.
Later this morning, August Existing Home Sales will be released with New Home Sales coming later in the week. Mortgage Bond prices are at the highs not seen since late April, which are levels that usually lead to a reversal lower. At the present time, I am advising to lock. If anything changes, I will get back to you. Have a great week!”
“Mortgage Bonds are higher this morning after the Federal Reserve left interest rates unchanged yesterday in its monetary policy statement. Stocks are considerably lower after the central bank raised concerns of a slowing global economy along with low inflation levels. I will continue to recommend carefully floating, but I grow ever so cautious with Mortgage Bond prices up against a stiff overhead resistance level. If I see any signs of a reversal lower, I will quickly alert you. Have a great weekend!”
“In one of the most highly anticipated Fed meetings in recent years, investors around the globe eagerly await the 2:00 p.m. ET release of the Fed’s monetary policy statement. Fed Chair Yellen will hold a news conference at 2:30. In economic news, Weekly Initial Jobless Claims declined in the latest week, while August Housing Starts fell 3% from July. The data had little impact on the markets. I am recommending floating headed into the Fed statement. However, markets can become extremely volatile when the statement is delivered this afternoon. If anything changes, I will quickly alert you.”