Tyler Durden's picture

We Have Mortgage Lift Off

The spread between mortgages and the 10 year just exploded...

But not because anyone is buying the 10 year.


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Deutsche Bank Projecting A 40% Decline In NY Housing Prices

After the good folks in the Deutsche Bank securitization group anticipated a 47% drop in NY housing prices in March, they have released an updated report discussing the future pain in the top 10 MSA, and the biggest outlier by a big margin, once again, is the New York-White Plains-Wayne NY-NJ MSAD.


Tyler Durden's picture

Intraday Credit Observations

Quants are back pushing the market up on no volume in tried and true fashion. Credit panicking, as 7 shares of something or another higher means inflation is here to stay. In the meantime, mortgages are on a one way street higher, while 2s10s are enjoying the cattle gun. At the same time, Treasury vol is starting to pick up again: just what the doctor ordered for a quant manipulated market as even PT volume disappears.

So which will it be Bernanke: 401(k) down only50% form their peak or people buying that 7th vacation home again.


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Treasury Supply On Deck: $104 Billion

As the 10 Year has resumed its daily pounding (and it seemed like just yesterday that bond concerns had disappeared... oh wait it was - time to deflate equities guys), the scheduled bond releases for next week should make the bond vigilantes giddy at the prospect of further uncovering China's growing lack of interest in US printed pieces of paper.

Here is the line up for next week:

$40 billion 2 Years on Tuesday
$37 billion 5 Years on Wednesday


Tyler Durden's picture

Rosenberg: "Era Of Green Shoots Over"

Good, succinct obit of the Green Shoots period compliments of Rosie's headline points from his morning piece.

Era of the Green Shoots is Over


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The Doubling Of Unemployment "Paychecks"

As program trading computers pretend to care about such fundamental things as continuing jobless claims, a peculiar trend emerges.


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