Bernanke

Here’s Why Rates Up A Bit Since Monday

Fixed-income traders report that trading in this environment is growing increasingly difficult. “We’re approaching levels that suggest the worst is built in.” The MBA reported that mortgage applications fell 4.3% last week in spite of the great rates. Banks are afraid to lend, to put it simply. Volatility picked up a little Monday afternoon when

Here’s Why Rates Up A Bit Since Monday

Fixed-income traders report that trading in this environment is growing increasingly difficult. “We’re approaching levels that suggest the worst is built in.” The MBA reported that mortgage applications fell 4.3% last week in spite of the great rates. Banks are afraid to lend, to put it simply. Volatility picked up a little Monday afternoon when

Fundamentals 8/26: GDP Revised Down To 1%

GDP -BEA’s second of three 2Q2011 GDP readings was revised down to 1% annualized. With BEA making so many discretionary adjustments it is getting difficult to gauge just how bad the economy is. If I were the suspicious sort I might be thinking that BEA saw +1.0% as a psychological barrier fearing much more serious