Mid-Day Recap: Equities Search For Direction After Earnings, Econ Data

Fed Continues to Slow MBS Purchases October 15, 2009 at 5:21 pm The Federal Reserve today reported on their weekly purchases of agency mortgage-backed securities (MBS). In the four trading days between October 8 and October 14, the Federal Reserve purchased a total of $21.42 billion agency MBS. In those four days the Federal Reserve sold a total of $5.32 billion agency MBS with almost all the sales coming in Fannie Mae 5.5 MBS coupons. After sales, the Fed's weekly net purchases were $16.1 billion....(read more) Freddie Mac: Mortgage Rates Rise from Recent Lows October 15, 2009 at 3:37 pm Freddie Mac's Primary Mortgage Market Survey for the week ended October 15 was released on Thursday. The report showed all four mortgages tracked by the survey had risen during the week. Fannie Mae's report on Weekly Yield was mixed....(read more) Mid-Day Recap: Equities Search For Direction After Earnings, Econ Data October 15, 2009 at 12:33 pm Jobless claims are down, inflation is benign, and manufacturing conditions were positive for the third straight month, but trading is jittery as investors snatch profits following the major gains yesterday. Approaching mid-day, a direction has yet to be found in equities, while yields on Treasuries are lower across the board and the dollar is trading higher against the yen and sterling. ...(read more) The Day Ahead: Busy Day for Data, Earnings October 15, 2009 at 8:14 am Equity futures are retaining gains after yesterday's 1.75% climb. The day ahead is full of new economic data and sentiment is generally higher as earnings statements for the third quarter have been beating forecasts. Most recently, Goldman Sachs reported earnings per share of $5.25 in Q3, a full dollar more than estimates. Ninety minutes before the bell, the S&P 500 is up 1.75 points to 1,089.50, while WTI crude oil is up ten cents to $75.28 per barrel, and spot gold is down $11.60 to $1050.80....(read more)