This page has been archived and commenting is disabled.

Fed Mortgage Traders Going Apeshit Trying To Keep 30 Year Mortgage Down

Tyler Durden's picture




 

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.

 

- advertisements -

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
Wed, 12/16/2009 - 15:49 | 166334 aint no fortuna...
aint no fortunate son's picture

dollah's almost flat on the day

Wed, 12/16/2009 - 15:50 | 166337 chumbawamba
chumbawamba's picture

GOLD BITCHES!!!

I am Chumbawamba.

Wed, 12/16/2009 - 16:46 | 166436 MarketTruth
MarketTruth's picture

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.

Wed, 12/16/2009 - 16:55 | 166454 Anonymous
Anonymous's picture

BOLD GLITCHES...in the Matrix I mean!!!

Wed, 12/16/2009 - 15:51 | 166340 truont
truont's picture

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.

Wed, 12/16/2009 - 15:55 | 166347 BG_rulez
BG_rulez's picture

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!

Wed, 12/16/2009 - 15:57 | 166351 Assetman
Assetman's picture

I think the term you are looking for is... "McQueened".

Wed, 12/16/2009 - 16:02 | 166361 ghostfaceinvestah
ghostfaceinvestah's picture

Just a sign of things to come if the Fed really does stop buying MBS.  Which they won't.

Wed, 12/16/2009 - 18:43 | 166625 Neo of Zion
Neo of Zion's picture

They will stop when the run out of money.

[waiting for it...]

Wed, 12/16/2009 - 16:02 | 166363 deadhead
deadhead's picture

Thank you TD.

I think your headline says it all.

Wed, 12/16/2009 - 16:26 | 166395 Anonymous
Anonymous's picture

Love, love, love the heds at ZH.

Wed, 12/16/2009 - 16:10 | 166372 john_connor
john_connor's picture

Another ho hum day in the formerly free markets.

Wed, 12/16/2009 - 16:11 | 166375 ghostfaceinvestah
ghostfaceinvestah's picture

Fed buying 70% of the TBA market, so you are correct in that they are the ones going apeshit.

Wed, 12/16/2009 - 16:20 | 166384 Cognitive Dissonance
Cognitive Dissonance's picture

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.

Wed, 12/16/2009 - 16:28 | 166399 Anonymous
Anonymous's picture

You took the long way home on that one...

Wed, 12/16/2009 - 16:38 | 166419 bugs_
bugs_'s picture

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.

 

Wed, 12/16/2009 - 16:52 | 166449 Sancho Ponzi
Sancho Ponzi's picture

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.

Wed, 12/16/2009 - 17:08 | 166473 Cognitive Dissonance
Cognitive Dissonance's picture

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.

Wed, 12/16/2009 - 17:30 | 166498 Sancho Ponzi
Sancho Ponzi's picture

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.

Wed, 12/16/2009 - 19:17 | 166691 Rusty_Shackleford
Rusty_Shackleford's picture

Love Carlin's bit about this.

 

http://www.youtube.com/watch?v=h6wOt2iXdc4

Thu, 12/17/2009 - 03:22 | 167179 delacroix
delacroix's picture

can I be known as Delacroixxx

Wed, 12/16/2009 - 16:31 | 166403 Anonymous
Anonymous's picture

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

Wed, 12/16/2009 - 16:37 | 166418 Internet Tough Guy
Internet Tough Guy's picture

Oil back over 74.

Wed, 12/16/2009 - 16:50 | 166445 Gordon Freeman
Gordon Freeman's picture

Bernanke:  "I'm just gettin' stahted! Hoo-ah!!"

Wed, 12/16/2009 - 17:11 | 166477 Anonymous
Anonymous's picture

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.

Wed, 12/16/2009 - 18:23 | 166588 DoChenRollingBearing
DoChenRollingBearing's picture

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.

Wed, 12/16/2009 - 18:28 | 166596 Anonymous
Anonymous's picture

"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 :)

Wed, 12/16/2009 - 17:54 | 166548 Anonymous
Anonymous's picture

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 !!

Wed, 12/16/2009 - 19:50 | 166742 ghostfaceinvestah
ghostfaceinvestah's picture

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.

Do NOT follow this link or you will be banned from the site!