We have the Secret Sauce

January 20th, 2017

Commentary 1:52 pm we are getting close to the round number of $102 and the 25 day moving average of 102.05.

1:52 PM 3.5% Fannie Mae 30-yr coupon up 3bp at a price of 101.97 up 19 bp when rates were set today.

Commentary 10:16 AM:  I believe on this inauguration day that Warren Buffett has words of wisdom that every American listen to.  See below from a CNBC.com article:

At a red carpet event Thursday night in New York for a new HBO documentary about his life, Buffett told CNBC the United States has the "secret sauce."

"It doesn't work all the time perfectly," the billionaire investor and philanthropist said, "but you just look at where we go, milestone after milestone. Never bet against America."

http://www.cnbc.com/2017/01/20/warren-buffett-says-the-us-will-do-fine-under-trump-because-weve-got-the-secret-sauce.html

 

What Is Going On With Interest Rates?  #wigowir

Below is the news when it happened and the market’s reaction.  For a full view of the day start at the bottom and work your way up. If want to know what just happened start at the top. All Times are Eastern Standard Time.  When the price of Mortgage Backed Securities (MBS) goes down rates go up, and when the price goes up rates come down. Remember in the bond market Bad News is Good News and Good News is Bad news.

1:27 PM Fed Chair Yellen said on Thursday night that wages have risen "only modestly" and that the manufacturing sector is operating well below capacity. Ms. Yellen also said that the economic expansion "seems unlikely to pick up markedly in the near term" given a weak external environment and a gradual tightening of monetary policy.

1:24 PM The Fannie Mae 30-yr 3.5% coupon trades to unchanged levels.

1:06 PM At midday, MBS trade in a tight range near unchanged. Stocks holding gains. 10-yr T Note yield 2.48%.

12:00 PM Donald Trump is sworn in as the 45th president of the United States

9:37 AM Stocks open higher. Dow up nearly 100 points.

8:13 AM Incoming President Donald Trump will be sworn in at 12:00 p.m. ET in Washington D.C. to become the 45th president of the United States.

8:12 AM There are no scheduled releases of U.S. economic data today.

8:11 AM U.S. dollar index 101.42, +0.27.

8:10 AM 10-yr T Note yield edges higher to 2.49%.

8:10 AM WTI oil 52.10/barrel, +$0.73.

8:09 AM S&P futures rise ahead of today's presidential inauguration in D.C.

8:08 AM MBS open lower after a stream of positive economic data from abroad was reported.

Johnmarbury.com has attempted to verify the information contained on this post.  However any aspect of such may change without notice.  Johnmarbury.com does not provide investment advice and does not represent that any of the information or related analysis is accurate or complete at any time. On October 5th we started posting our rates and leaving them on the site for you to refer back to. This will allow  you see where actual rates have been along with the news that caused the fluctuations on the rate sheet.  I ask that you forgive my spelling and grammatical mistakes. This is due writing skills that are lacking and the need to communicate quickly.  Most of the information posted on this blog along with the charts and indexes are available all during the day to the subscrbers of www.themortgagemarketguide.com  The cost of subscription is very reasonable.

 

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