Quote of the day


"Home sales are in the process of reversing
all the gains of the past two years and reverting to 2003 levels."

- Robert Mellman, economist, J.P.

The WSJ’s Afternoon Report reports that mortgage apps sank 5.5% last week; According to the The Mortgage Bankers Association,  applications for purchase fell
4.7%, while refis slid 6.6%.

Not coincidentally, borrowing
costs ticked higher: the average rate on a 30-year fixed mortgage is 6.50%, while the one-year Treasury adjustable-rate mortgage rose to 5.97%. These are the highest rates have been since April 2001.


Trade Reprieve
Tim Annett
WSJ, April 12, 2006 12:34 p.m.

Category: Fixed Income/Interest Rates, Real Estate

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Category: Commodities, Consumer Spending, Earnings, Economy, Employment, Fixed Income/Interest Rates, Inflation, Psychology, Real Estate

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Category: Economy, Federal Reserve, Fixed Income/Interest Rates, Inflation

Did the Yield Curve Send a “False Alarm?”

Category: Data Analysis, Economy, Federal Reserve, Fixed Income/Interest Rates, Inflation, Investing, Markets

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Category: Music

Q puts, VIX calls

Category: Trading

Media Criticism: Too harsh? (No)

Category: Financial Press

Rodman & Renshaw: Mr Spitzer will see you now . . .

Category: Corporate Management, Investing

Does the US have a “Credit Risk Spread” vs Other Nations?

Category: Economy, Federal Reserve, Fixed Income/Interest Rates

Linkfest April

Category: Weblogs