Mortgage-backed securities dipped lower yesterday, the Existing Home Sales report didn’t live up to expectations, and the Dow flirted with the 13,000 point mark. Who wants a market update?
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Greek Bailout Package Finalized – Market Update
Eurozone finance ministers finalized the Greek bailout package (FINALLY!), however questions still remain, especially about if Greece will ever re-enter the free market.
Fate of Greece May Be Determined Today – Market Update
We have a weak week (yep, I just did that), Greece’s fate might be determined today, and Spain isn’t in the best of shape. Market Update, you say? You got it!
Europe May Receive Additional Bailout Funds – Market Update
Treasuries are down this morning, largely due to beliefs that finance ministers may provide Europe with additional bailout funding.
Mortgage-Backed Securities Down Amid Low Jobless Claims – Market Update
Mortgage-backed securities are down this morning, due in part to the continuous low unemployment reports that came in this week.
Credit Downgraded for Six European Countries – Market Update
Italy, Spain, Portugal, Slovakia, Slovenia, and Malta all received credit downgrades yesterday by Moody’s Investors Service.
Mortgage-Backed Securities Up – Market Update
Mortgage-backed securities are up this morning due to the Advanced Retail Sales report that came in lower than expected.
Treasury Prices Down – Market Update
A 22 percent reduction in minimum wage, pension cuts, and an immediate layoff of nearly 15,000 state workers are among the significant austerity measures approved by Greek lawmakers through the new debt deal Greece has struck.
Treasuries Rise, 10-Year Note Falls – Market Update
Treasuries have spiked after a short lull in light of a European financial ministry withholding of Greece’s rescue page. Although treasuries rose, early morning reports indicate that the 10-year note plummeted 7 basis points to 1.97% overnight.
Greece Strikes a Bailout Deal – Market Update
The story has been a far cry from John Travolta’s best dancing days on screen, but in the news this morning there’s no doubt that “Greece is the word.” Reporting indicates Grecian political leaders have at last struck a deal to garner 130 billion euro that will aid in bailing out the debt-laden nation. Early releases confirm that private creditors will receive a 50% cut from the country’s bonds.
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