For information on highlighted terms in the commentary, click here. Stocks are on another slide this morning after weak reports from IBM and Goldman Sachs. Also hurting stocks was the news that housing starts for June were below expectations. The Dow has recovered somewhat after a fast drop at the open. Currently the index is [...]

“The market has reached a point of equilibrium, where there is a tug of war between the soft patch in the economic data stream and better reports out of corporate America,”

Both chambers of Congress have passed the Dodd-Frank Financial Reform package and President Obama is expected to sign it into law on Wednesday. After experiencing a crisis that brought our economy to its knees and still threatens our recovery, Congress felt compelled to react. May thoughts on this reform have been well documented. I believe [...]

For information on highlighted terms in the commentary, click here. Data showed consumer sentiment has fallen and second quarter earnings are mixed. Stocks are continuing their sell off and the Dow is now down over 150 points. Financial Reform has passed and will be sent to the President for his signature. The 2300 bill will [...]

For information on highlighted terms in the commentary, click here. Yesterday was quiet on all fronts. There was not much data to review until just after the markets closed. Alcoa then released their second quarter earnings reports, which came in slightly above expectations. This is a good start for what will likely be a busy [...]

“In the short-term, this summer, we need to be fairly cautious, and be very cautious this earnings season to take good news with a grain of salt,”

“Staying in safe haven assets right now might feel like the best thing to do, but that’s wrong,” said Jim Caron, head of global interest-rate strategy at Morgan Stanley. “The second half of the year is going to surprise most people as we get the growth that will lead to higher yields.” What seems to [...]

Last week was good for mortgage rates as MBS prices were pushed up. Each day had volatility, but overall prices increased for the week. Stocks suffered over poor news in housing starts and a week projection from the Federal Reserve. This week will be active with economic data and a short trading period in anticipation [...]

For information on highlighted terms in the commentary, click here. As we suggested yesterday MBS prices fell and borrowing costs rose. Investors did not move their money to stocks, however, as the Dow also lost significant ground. This morning, data showed that consumer sentiment is stronger then expected. This initially helped stocks and hurt MBS. [...]

“People are taking a week-by-week view of the markets right now rather than saying everything is OK and let’s move on,” said strategist Peter Boockvar, of Miller Tabak. “Remember, Greece came to our attention back in November, and there were several stretches of time along the way where we thought things would be fine.” MBS [...]