Key Takeaways People live out all of the potential downsides in the mere reflection of what other people will think about them in the future, should they fail Shame only exists in the shadows; identify when [...]
MBS up 16 bps on open. Stocks flat. Bonds rallied overnight due to a sharper rally in EU bonds. 10yr yields dropped to 3.743 before Retail Sales data and rallied slightly afterward. Pushback [...]
Reading Notes For: Do Not Underestimate Your Opponent You gain nothing from underestimating your opponent. Hubris is the only thing that upsets the people on the top of the mountain. There [...]
Stocks open flat after a week of historic gains as China's Q2 growth falls short of estimates. Banks downgrade China's growth forecasts, risking Beijing's GDP target. Yields decline due to lower inflation, but [...]
Proving that you can't win them all, MBS are down 30 bps on the morning. Stocks up 12 points. UMBS 5.5 coupons were just down nearly 3/8ths of a point. A split second [...]
Mortgage Today: MBS and Stocks Rally After Lower-Than-Expected CPI Data Core CPI came in below expectations, at 0.2% month-over-month, annualizing to 2.4%. This is seen as a sign that inflation may be peaking, [...]
Reading Notes For: Finding What to Optimize What is the thing that you can do longer than anyone else where to them it looks like work, and to you, it feels [...]
MBS are up 53 mighty basis points in the AM. Stocks up 44 points A 0.2% "miss" in core CPI is one of the better eventualities that bonds could have hoped for today. [...]