Anders L. Nilsson has not received any gifts yet
The unemployment and payroll data released on Friday turned out to be the perfect news for the stock market. The numbers were very close to expectations. If the numbers had been stronger than there would have been concerns of the Fed ending its QE efforts, weaker numbers and the worry would have been of the economy not growing enough. The middle of road data helped the stock market rally and the bond market fell pushing rates higher.
We had seen rates drop both Wednesday and…Continue
Posted on June 10, 2013 at 6:48am
We had a busy week with many news releases and the Fed meeting ending Wednesday. There were no surprises in the Fed statement Wednesday. The market had hoped for stronger wording on the continuation of the QE bond buying and the possibility of expansion but the language was similar to that we saw after the last meeting. In the end there was little reaction in the markets though mortgage backed securities (MBS) gave up a little bit of earlier gains causing rates to tick up.
Posted on May 6, 2013 at 9:05am
With little news, mortgage rates barely moved for the first four days last week.Friday's weaker than expected GDP data was favorable for mortgage rates, however,and caused rates to end the week a little lower.
GDP, which measures all the goods and services produced in the US, is the broadest measure of economic growth. First quarter GDP increased at a 2.5% rate, which was below the consensus forecast, but was up from 0.4% in the fourth quarter. Strength was seen in consumer…Continue
Posted on April 29, 2013 at 8:28am
The stock market ran into some choppy seas last week and ended it with its worst weekly performance of the year. Meanwhile the mortgage backed securities (MBS) continued to enjoy smooth sailing. There was little reaction to news that stirred the equities market. Consumer Price Index (CPI) showed 1.9% yearly inflation which is right in line with the Fed’s target. This combined with moderate expectations for growth is providing fair winds for MBS to continue to enjoy a nice…Continue
Posted on April 22, 2013 at 9:18am