Tag Archives: Gadhafi


The head of the National Transitional Council military arm announced on Al Jazeera Arabic that Gadhafi is dead. The report hasn’t been confirmed.

Mortgage bonds are weaker at the open pushing rates higher as news out of Europe indicates the euro zone’s bailout facility will be able to buy EU bonds on the secondary market. The US debt market was weaker heading into the jobs data and didn’t move move following it.

Stock futures are higher adding addition pressure to mortgage bonds. The flight to quality buying of US debt instruments continues to fluxuate as hopes of a European debt solution increase. AS WE CONTINUE TO STATE….the trouble in Europe is far from over and we have been on this roller coaster for some time so expected more volatility to come!!!

Weekly jobless claims @ 403k, expected @ 400k, relatively in line with expectations

Maine Mortgage Market Wrap 02.22.2011

MARKET WRAP: Tensions in the Mideast led investors to the safe haven of the Bond markets today and sent shockwaves through the Stock markets. Libyan dictator Gadhafi tried to cling to power today after a 42 year reign as he tried to push the Airforce to fire on their own people. The 4% coupon surged 53bp to end the session at 98.09, near the highs of the session. Stock markets plunged on the news with the Dow falling 178.46 to 12,212.79, the S&P 500 fell 27.57 to 1,315.44 while the Nasdaq lost 77.73 to end at 2,756.42. Oil prices soared on the Mideast unrest as the problems could disrupt oil flow – Lt. Sweet Crude rose $7.37 to $93.57/barrel for March, which is expiring today. The April contract rose $5.71 to $95.42/barrel, which will be in focus starting tomorrow. Existing Home Sales will be released tomorrow. The Treasury will sell $35B 5-year Notes on Wednesday.