Fed Mortgage Traders Going Apeshit Trying To Keep 30 Year Mortgage Down
The only real action after the FOMC statement so far has been on the long-end of the curve both in USTs and mortgages. Kneejerk sell off in the Fannie 30 Year, is matched only by the puke in treasuries, where the spread is now much tighter, wait, wider, no, no, tighter.
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on Wed, 12/16/2009 - 14:49
#166334
dollah's almost flat on the day
on Wed, 12/16/2009 - 14:50
#166337
GOLD BITCHES!!!
I am Chumbawamba.
on Wed, 12/16/2009 - 15:46
#166436
Agree gold... but never underestimate the stupidity of those pesky dollarbugs. The dollar has continually lost value long-term since its inception in the early 1900s and buys less and less goods. Still, those dollarbugs keep thinking their 'investment' will gain in value.
The FDIC? They might be able to give you back the paper, yet the FDIC can not and does not insure the value of your deposits.
on Wed, 12/16/2009 - 15:55
#166454
BOLD GLITCHES...in the Matrix I mean!!!
on Wed, 12/16/2009 - 14:51
#166340
Corp-Gov spin the increase in long-end yields as evidence of expected recovery.
Today's yield increase just after the FOMC announcement shows that the long-end yields show higher expected inflation down the road.
on Wed, 12/16/2009 - 14:55
#166347
If there is fiat monetary system there is room for abuse, deficits, inflation, fractional reserve lending…
Help dismantle the abomination of today`s governments and gain our freedom back!
on Wed, 12/16/2009 - 14:57
#166351
I think the term you are looking for is... "McQueened".
on Wed, 12/16/2009 - 15:02
#166361
Just a sign of things to come if the Fed really does stop buying MBS. Which they won't.
on Wed, 12/16/2009 - 17:43
#166625
They will stop when the run out of money.
[waiting for it...]
on Wed, 12/16/2009 - 15:02
#166363
Thank you TD.
I think your headline says it all.
on Wed, 12/16/2009 - 15:26
#166395
Love, love, love the heds at ZH.
on Wed, 12/16/2009 - 15:10
#166372
Another ho hum day in the formerly free markets.
on Wed, 12/16/2009 - 15:11
#166375
Fed buying 70% of the TBA market, so you are correct in that they are the ones going apeshit.
on Wed, 12/16/2009 - 15:20
#166384
When I was a child they came out with a "super ball" which bounced like crazy. If you dropped it from 10 feet, it would bounce back up at least 7 or 8 feet and bounce and bounce some more. My favorite trick was throwing it under a table and watch it go crazy bouncing between the floor and the underside of the table very quickly.
Sort of like the chart above.
on Wed, 12/16/2009 - 15:28
#166399
You took the long way home on that one...
on Wed, 12/16/2009 - 15:38
#166419
We would stick a pin slightly in the top of a
super ball and drop it. The energy would go
into the pin and imbed it in the ceiling.
Kids don't try this at home like we did.
They stopped selling them LOL.
on Wed, 12/16/2009 - 15:52
#166449
Ahhh, the gold old days of lawn darts and clackers that blew up in your face. It's too bad America has since been neutered.
on Wed, 12/16/2009 - 16:08
#166473
LOL
The only thing Americans do that's dangerous nowadays is to watch (take your pick) Keith Olbermann or Bill O'Reilly/Glenn Beck.
BTW, what the f**k is it with the extra "n" in some names? One's not good enough? You need two in order to be different? In the 50's and 60's it was extra letters in last names, in the 90's and 00's it was everyone getting a participation trophy. God help us all if our ego isn't massaged.
on Wed, 12/16/2009 - 16:30
#166498
I guess it fits perfectly with what I call the Decade of Overextension:
Overextended names
Overextended consumers
Overextended governments
Overextended breasts
The list is endless.
on Wed, 12/16/2009 - 18:17
#166691
Love Carlin's bit about this.
http://www.youtube.com/watch?v=h6wOt2iXdc4
on Thu, 12/17/2009 - 02:22
#167179
can I be known as Delacroixxx
on Wed, 12/16/2009 - 15:31
#166403
Goldman Sachs Mortgage Role Should Be Probed, Labor Union Says
Workers United sent the letters this week urging officials to follow the example of Massachusetts Attorney General Martha Coakley. In May, Goldman Sachs agreed to a $60 million settlement to end an investigation by Coakley’s office into how the New York-based bank packaged securities containing home loans made to Massachusetts residents.
“It is clear from its response in Massachusetts that Goldman is prepared to respond to pressure from Attorneys General like yourself, which can translate to millions of dollars for hundreds of troubled homeowners,” Workers United President Bruce Raynor wrote in a letter to New York Attorney General Andrew Cuomo, a copy of which was obtained by Bloomberg News. “The people of New York deserve the same level of compensation for problem loans and access to affordable refinancing.”
n addition to New York and California, Raynor also sent letters to the attorneys general in Arizona, Florida, Georgia, Illinois, Maryland, New Jersey, Texas and Virginia, the union said. Brian Morse, a researcher at Workers United, said in an interview that the letters were mailed on Dec. 14.
The Massachusetts homeowners covered by the Goldman Sachs settlement are getting a better deal than those covered by the U.S. government, Morse from Workers United said. The federal program doesn’t cut borrowers’ principal balances and their monthly bills can start to adjust higher after five years.
http://tinyurl.com/ydskwnt
on Wed, 12/16/2009 - 15:37
#166418
Oil back over 74.
on Wed, 12/16/2009 - 15:50
#166445
Bernanke: "I'm just gettin' stahted! Hoo-ah!!"
on Wed, 12/16/2009 - 16:11
#166477
In the 70's my buddy and I used to take a Superball into a large empty walk-in closet and throw it really hard at a weird angle and then jump around like crazy to try to not get hit by it. Felt like a rock when it hit you in the head. Good times.
My friend also had "Jarts". Lawn darts, must have been 18 inches long. Steel. Sharp. Awesome. Catch one of those suckers in the chest and it's welcome to the Pearly Gates.
on Wed, 12/16/2009 - 17:23
#166588
Yeah, we young fellas used to do stupid but fun things. Super Ball, yah, I remember that. Swinging on vines. Friend of mine and his brother would chug Tabasco bottles.
Nowadays I buy gold and TBT.
on Wed, 12/16/2009 - 17:28
#166596
"Catch one of those suckers in the chest and it's welcome to the Pearly Gates."
I have no idea what you are talking about but it made me laugh out loud in the office :)
on Wed, 12/16/2009 - 16:54
#166548
Meanwhile Cocoa and Sugar prices leap to all time highs !! Yipeee for the common man and So much for his morning cup of Joe !! Thank you Ben !!
on Wed, 12/16/2009 - 18:50
#166742
noticed that this morning. wasn't sugar recently at the highest levels since the early 80s?
oil also back above 70.
it is just amazing how people don't get it - Bernanke, through his dollar printing, extracted wealth from every American to give to the banks.
he is definitely Man Of The Year for Wall Street.