| 301. | Rates Hold Firm Ahead of Jobs Report
There was a lot of news for the financial markets to digest the day prior to the January employment report. Wall Street was disappointed by weaker-than-expected earnings from some top companies, while bond traders worried about a slide in productivitEconomic News is Mixed, ..
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| Thursday, February 03, 2005 |
| | 302. | Rates Not Affected by Fed Hike
The Federal Open Market Committee, the policy-making arm of the Federal Reserve Board, raised short-term interest rates to 2.5 percent -- an increase of 25 basis points (one-quarter of 1 percent). The move, which was fully priced into the markets, tuThe only question facing traders on Wednesday was whether or not the Fed would leave the word "measured" in its statement. It did. This is widely interpreted as meaning the Fed will continue to increase rates, but only by 25 basis points at..
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| Wednesday, February 02, 2005 |
| | 303. | Fed Does the Expected: Raises Rates by 25 Basis Points
The Federal Open Market Committee, the policy-making arm of the Federal Reserve Board, raised short-term interest rates to 2.5 percent -- an increase of 25 basis points (one-quarter of 1 percent). This move was expected and fully priced into the markThe much-anticipated accompanying statement provided no surprises. It was virtually the same as the statement released after the December 14 meeting. Traders were relieved to learn that the Fed would remain "accommodative" with regard to ra..
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| Wednesday, February 02, 2005 |
| | 304. | Rates Little-Changed into Fed Credit Decision
Prices of U.S. Treasury securities closed a wait-and-see session little-changed Tuesday, held in check by sizable gains in U.S. equities and data that suggested a mixed economic outlook. Yields, which move opposite of prices, clung close to MondayThe Institute for Supply Management said Tuesday morning that its index of national manufacturing activity dipped to 56.4 in January from a revised 57.3 in December, slightly below forecasts for 57.0. A reading above 50 still indicates manufacturing ..
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| Tuesday, February 01, 2005 |
| | 305. | Weak GDP Spurs Treasury Rally
A weaker-than-expected reading on the nation's economic health and a report that showed no signs of inflation in employment costs spurred a rally Friday that sent U.S. Treasury prices climbing and yields, which move in the opposite direction of pSlower economic growth and tepid inflation gave traders hope that the Fed might continue its balanced stance, i.e., believing that the risk of inflation is no stronger in one direction than the other. The GDP, which is the nation's broadest econo..
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| Friday, January 28, 2005 |
| | 306. | Rates Continue to Hold
Mortgage rates continued to hold firm today in spite of slight downward pressure on U.S. Treasuries. A fairly strong 0.6 percent gain in December durable goods orders - those items meant to last more than three years - ignited selling even though theWall Street closed mixed, with the Dow Jones unable to claw its way out of negative territory due to a disappointing earnings report from Caterpillar. The heavy machinery maker missed on earnings estimates and lost more than 5 percent on the session...
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| Thursday, January 27, 2005 |
| | 307. | Rates and Treasury Yields Unchanged
Mortgage rates and Treasury yields, which lenders use as a guide to set rates, remained firm today. A lack of economic news and little to either encourage or discourage buying or selling resulted in a lackluster day in the bond pits. The only news afStocks, on the other hand, chalked up another winning session led by the tech sector. Texas Instruments got the ball rolling by beating earnings estimates. This not only boosted other chip makers, but added 7.3 percent to TI's share price. Oracle..
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| Wednesday, January 26, 2005 |
| | 308. | Rates Rise as Treasuries Sink
Mortgage rates climbed back to their previous levels today as investors sold Treasuries and took the money to Wall Street in hopes of big gains. Just yesterday mortgage rates finally broke through five-month barriers to lower levels. But today a bettAlthough they closed off their highs of the session, the major averages made big gains. A slew of positive earnings, the confidence numbers and the existing home sales (EHS) report spurred buying in the equity markets. Although EHS slid 3.3 percent i..
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| Tuesday, January 25, 2005 |
| | 309. | Rates Fall Across the Board
Activity in the financial markets has been favoring U.S. Treasury securities. Three down weeks on Wall Street has sent money into Treasuries, and the high price of oil -- regarded by bond traders as a tax on the consumer that will keep a lid on econoStocks continued their rough ride after a good fourth quarter. Today's villain was Infinion Technologies, a German semiconductor giant, which warned that global demand for chips was slowing. This hit domestic chipmakers such as AMD and Texas Inst..
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| Monday, January 24, 2005 |
| | 310. | 30-Year FRM Ready to Edge Down
U.S. Treasury securities added to yesterday's rally upon opening, and then got an additional boost from the University of Michigan preliminary consumer sentiment survey for January. The early numbers fell from the December final of 97.1 to 95.8 -It looked like Wall Street was headed for a rally, with three Dow Jones components putting up big numbers. But pressure from the Michigan sentiment survey, a rise in oil prices and widespread concern about corporate earnings sent the three major aver..
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| Friday, January 21, 2005 |
| | 311. | Rates Hold Amid Volatility
It looked like it was going to be a tough day for U.S. Treasury securities. After two strong sessions that sent prices up and yields, which move in the opposite direction of prices, down, profit takers moved in and reversed the course. The yield on tWall Street had a much rougher day, with eBay's after-bell warning yesterday setting a negative tone. Although the online auctioneer announced a two-for-one split, that was followed by bad news. Earnings were weak and the forecast was disappointi..
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| Thursday, January 20, 2005 |
| | 312. | Rates Remain Stable One More Day
U.S. Treasury securities had another good day as longer-dated debt out-performed the shorter end of the spectrum. Traders were comforted by a consumer price index (CPI) that met expectations and showed no signs of inflation -- thanks in large part toHome buyers went on a spree last week, spurred on by a slight dip in mortgage rates. According to the Mortgage Bankers Association, applications to purchase rose 14 percent and refi apps shot up 19.1 percent. The positive economic news did not appear..
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| Wednesday, January 19, 2005 |
| | 313. | Rates Unchanged in Spite of Treasury Rally
It was a good day for the financial markets, with both stocks and bonds making gains. U.S. Treasury securities struggled early, but moved up on a big decline in manufacturing conditions in New York state. The NY Empire State index for January plunged4:00 PM:, ..
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| Tuesday, January 18, 2005 |
| | 314. | Rates Hold in the Face of Treasury Sell-Off
U.S. Treasury securities took a beating at the hands of a stronger-than-expected read on industrial production. Prior to the release of a host of economic reports today the producer price index (PPI) for December was the most anticipated. The questioStocks on the other hand closed the week to the upside, with positive economic reports boosting both spirits and buying. In addition, there were bargain hunters out picking up the ruins of yesterday's Wall Street sell-off. Disney shares rose on a..
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| Friday, January 14, 2005 |
| | 315. | Rates Hold But Look to Edge Lower
Mediocre retail numbers for December, a rise in oil prices and another increase in first-time unemployment claims ignited a rally in U.S. Treasuries -- especially longer dated issues. Although some observers termed it a "relief rally" due t4:00 PM:, ..
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| Thursday, January 13, 2005 |
| | 316. | Rates Unchanged for One More Day
U.S. Treasuries held yesterday's gains and stocks staged a late-day rally to close with the first significant upswing of 2005 -- this in spite of a record-setting trade deficit in November. The $60.3 billion trade gap put pressure on stocks in thNews of the $60 billion deficit that saw exports fall by $2.2 billion while imports rose by only $2 billion put pressure on Wall Street early. The markets were elated with Intel's fourth-quarter earnings/sales and increased first-quarter guidance..
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| Wednesday, January 12, 2005 |
| | 317. | Steady as They Go -- Rates Hold
Stocks plunged today and some of the money that left Wall Street headed straight into the safe haven of U.S. Treasury securities. While the Dow Jones and the Nasdaq reacted negatively to disappointing earnings, buying in Treasuries was lively -- espeAn earnings miss by Alcoa, the first Dow component to report, set a negative tone for the Dow, and AMD (Applied Micro Devices) warned that it would miss fourth-quarter estimates-- sending the stock down 26 percent. Although both the Dow and the Nasda..
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| Tuesday, January 11, 2005 |
| | 318. | Status Quo Revisited -- Mortgage Rates Edge Back Down
Mortgage rates retreated to previous levels today in lackluster trading. The only economic news was largely ignored, as it reflected November wholesale inventories and sales. In the report, inventories rose slightly more than expected -- up 1.2 perceStocks, after a tough week of profit taking, managed to close in positive territory, although well off their highs of the session. The Dow Jones was almost equally divided between winners and losers, with four components posting gains of more than 1 ..
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| Monday, January 10, 2005 |
| | 319. | Mortgage Rates Up as Roller Coaster Continues
Mortgage rates ticked back up today for the second time this week, even though the employment report for December was benign. Non-farm payrolls rose by a less-than-expected 157,000 new jobs -- far short of the 175,000 analysts predicted. But Novembe4:00 PM:, ..
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| Friday, January 07, 2005 |
| | 320. | Mortgage Rates Back Down Again
It's been a bumpy ride this week, with U.S. Treasuries reacting to a number of different events. Today buying in U.S. Treasury securities was brisk after first-time jobless claims were released. Claims rose by 43,000 to 364,000 -- the biggest one4:00 PM:, ..
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| Thursday, January 06, 2005 |
| | 321. | Mortgage Rates Rise on Yesterday's Treasury Sell-off
Mortgage rates rose today in response to the big sell-off in U.S. Treasury securities yesterday when prices fell and yields, which move in the opposite direction of prices, soared. The reason: the minutes of the Fed meeting suggested concern over futThe 30-year Treasury bond was up 17/32 in price with the yield falling to 4.85 percent., ..
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| Wednesday, January 05, 2005 |
| | 322. | Fed Minutes Sink Financial Markets But Mortgage Rates Hold
Concern about higher prices down the road were found in the minutes of the December 14 meeting of the Federal Open Market Committee, and this hint of coming inflation was all that was needed to spark a sell-off in the financial markets. Inflation is The 10-year Treasury note was down 21/32 in price with the yield rising to 4.29 percent., ..
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| Tuesday, January 04, 2005 |
| | 323. | Mortgage Rates Edge Down to Previous Levels
Two disappointing economic reports boosted long-term U.S. Treasuries today. After opening to the downside, bond traders did a U-turn and began buying based on two reports. Construction spending in November, which is all construction, not just housingThe 10-year Treasury note was up 1/32 in price with the yield falling to 4.21 percent., ..
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| Monday, January 03, 2005 |
| | 324. | Mortgage Rates Steady
A decline in the Chicago Purchasing Managers index on manufacturing conditions for December ignited a mini-rally in U.S. Treasuries, which sent prices up and yields, which move in the opposite direction of prices, back down off yesterday's highs.Wall Street also was trading on thin volume, with investors apparently willing to hang on to their profits. All the major indices are trading close to unchanged and that will likely continue into tomorrow's shortened session.
1:30 PM:
The..
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| Thursday, December 30, 2004 |
| | 325. | Mortgage Rates Heading Up Again
For the first time in months mortgage rates have shown some volatility after holding reasonably steady since the beginning of September. It was another light-volume day in U.S. Treasuries, but that in itself can cause movement because small trades maThe housing report rallied the equity markets, but a rise in oil prices sent them back down. Oil inventories were much lower than expected, and this news was followed by the report of explosions in Riyadh, Saudi Arabia, raising fears about the disrup..
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| Wednesday, December 29, 2004 |
| | 326. | Mortgage Rates Creep Up Then Fall
A big surge in consumer confidence in December spurred aggressive selling in U.S. Treasuries. Traders dumped 5-, 10- and 30-year issues on fear that an upbeat consumer will grow the economy at a faster-than-expected pace, thus causing the Fed to hikeThe consumer confidence numbers were great for Wall Street and all the indices responded positively. In addition, the last week of the year and the first couple of days of the new year have been historically good ones for stocks. Portfolio managers ..
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| Tuesday, December 28, 2004 |
| | 327. | Santa Claus Rally Heads South
The Santa Claus rally that boosted stocks last week and kept U.S. Treasuries on an even keel headed out of town after Christmas, leaving both stocks and bonds in the hole for the session. Treasuries were hit with a triple-whammy even though there wasStocks opened to the upside, trying to keep last week's good times rolling, but Wall Street found little reason to buy, sending shares down. The weak dollar also weighed on equities. Although there were some retail success stories for the holiday..
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| Monday, December 27, 2004 |
| | 328. | Mortgage Rates Hold for The Holidays
A batch of economic reports, an increase in the S&P 500, and a drop in the price of oil all took turns influencing U.S. Treasuries. Some made an impact, some didn't. The anxiously awaited durable goods report for November proved worth waiting fThe Santa Claus rally continued on Wall Street, although gains were modest at best. The big news was that the S&P 500, a broad index of 500 stocks, hit its highest level since August 2001. The Dow Jones closed with 18 components in positive territory..
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| Thursday, December 23, 2004 |
| | 329. | Mortgage Rates Remain Attractive
A slightly stronger-than-expected revision of third quarter GDP put a little downward pressure on U.S. Treasury securities. The GDP increased by a revised 4 percent, but handily beat the 3.3 percent second-quarter gain. In addition, consumers spluWall Street continued its climb today, spurred by the upwardly revised GDP, corporate news, and an increase in crude and heating oil reserves that drove oil prices down. Embattled Fannie Mae said good bye to its CEO and CFO after a string of account..
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| Wednesday, December 22, 2004 |
| | 330. | Mortgage Rates Unchanged
Santa Claus visited Wall Street today, sending the Dow Jones to its best level in three-and-a-half years. The Nasdaq also posted a big gain -- up 1.1 percent on the session. U.S. Treasuries, however, were stagnant and their yields, which move in the A couple of big-name brokerages blew past earnings expectations, lifting the equity markets at the opening bell. Although neither stock -- Bear Stearns or Morgan Stanley -- got a huge lift, an optimistic tone was set. Adding to the upbeat atmosphere,..
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| Tuesday, December 21, 2004 |
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