Economists project the Fed will reduce QE in the fourth quarter to $50 billion from $85 billion.
Tag Archives | Quicken Loans Market Update
Today will probably be the last calm day for the bond market. The Chicago PMI Index has the potential to move the market if the numbers significantly under perform.
The market appeared to rally for a nanosecond when an erroneous tweet hit the headlines. Hackers attacked the Associated Press Twitter account stating the White House had been attacked.
Treasuries advanced for a second day in a row amid concerns global economic growth is slowing. Both China and Europe manufacturing reports underperformed for the month, spurring demand for safer assets.
Bond dealers on Wall Street announced on Friday they see little chance the Fed will slow the pace of debt purchases, even as policy makers face calls to curb their buying.
The theme of this week seems to be indifference. Economic data has had little to no effect on trading levels this week.
MBS saw a rally on Friday afternoon spurred by news from our European friends – Cyprus and Italy. The bailout in Cyprus may be in jeopardy unless the government is able to raise more cash.
The FOMC minutes were released early yesterday after they were accidentally leaked to key investment houses.
The market steadily sold off yesterday, which was considered a correction from the rally caused by bad employment data on Friday.