Tag Archives: retail sales

Maine Mortgage Market Wrap 02.14.2011

MARKET WRAP: The Bond markets rallied for a 2nd straight day as investors looked for bargain prices after the recent steep sell-off. Stock markets traded near unchanged levels throughout the session, which gave some support to Bonds. There were no economic reports released today. The 4% coupon rose 12bp to end the session at 97.12 and closed above resistance at 96.78. As mentioned, Stocks had an uneventful day. The Dow lost 5.07 to 12,268.19, the S&P 500 Index was up 3.17 to 1,332.32 while the Nasdaq gained 7.74 to 2,817.18. Lt. Sweet Crude lost 77 cents to $84.81/barrel. Tomorrow’s economic data includes Retail Sales and NY State Empire Manufacturing data.

Maine Mortgage Market Update 11.15.2010

The steep selloff from Friday continues this morning. Mortgage bond prices remain considerably weaker pushing rates much higher. Stronger than expected retail sales data isn’t helping.

Retail sales rose 1.2%, expected up 0.7%, not bond friendly.

With all the volatility seen recently, you can expect your pricing desk to price defensively. Unscheduled price changes will come fast and exceed market movement as lock desks attempt to protect against the risk of falling prices.

Bonds are in the tank as investors move to the sidelines to see how QEII will play out. Bonds are concerned inflation will shoot higher.