Updated 8:48AM Est by... MG...
- No longer "mostly flat"
-post claims momentum carrying MBS into negative territory with the 4.5 now down 5 ticks to 99-06.
- First bounce at 99-04/3.78 in tsys, but could still go either way.
(end of updated content, original post follows...)
The AM So Far...
- 4 ticks up on 4.5's. Currently at 99-14
- BOE announces surprise increase in QE, pound slides
- IF the dollar benefits as a result remember that strong dollar tends to coincide with lower domestic stock prices
- Target earnings worse than expected
- Jobless Claims coming right up
Recap of Previous Session
- After an extended absence, "shocking precipitous bank closures" hit home as TBW shuts doors
- Day ended almost exactly where it began
- Big selling in the AM, Big rally mid day, big selling = status quo
- MG and AQ cut their first single, see end of post...
In The Time It Takes To Type... (NEW!)
- MBS retracing to yesterday's lows after better than expected jobless claims come in at 550k.
- Continued claims rise, almost exactly as expected to 6.31 mil
- Insured unemployement rate unchanged from previous and consensus at 4.7
- Staying away from red so far
- Whether we rally or sell, what does the latest hit single tell us about "middle of the road" data?
(by the way, it's even more poignant if you have gangsta's paradise lyrics up or know them by heart)
As I see no more rallies for the MBS
I take a look at my pipe
And realize there's nothing left.
'Cause I've been floating with positions so long
That even my momma thinks that old locks are blown.
But I ain't never floated deals, that didn't deserve it.
Massive Sell-Off overnight?, you know that's unheard of!
You betta watch how ya tradin'
What stock rallies you fadin
Or your MBS gurus won't have room to talk.
I really hate the spread but I gotta lock,
As they buy stocks, I see myself in line for docs.
Fool, I'm the kinda LO all you fellows wanna be like,
Hedged my pipe in the night
Saying thanks to that MBS site!
We've been spending most July living in a trader's paradise...
We've been spending most our time living in day trader's paradise...
Look at the situation, this disconnected tradin'
I can't put out a decent quote, they keep raising the rates!
So I gotta be down with AQ and MG,
Too much CNBC watchin', got me chasing dreams.
I'm an educated LO with rebate on my mind
But even three eighths in my hand makes a gleam in my eye.
My pipe's all locked up bankers! I'm out of danger!
And my junior LO's got lock sheets so don't arouse my anger.
Fool, emails from Provi ain't but a day trade away,
Instead of living life do or die, I'll live to lock another day!
I'm at five point five now, will I live to see five point fo?
The way traders tradin' I don't know.
Tell me why do we
chase more Y - S - P.
When the ones who win
All trade on Wall Street?
Just spent most of July Livin' in a Trader's Paradise
Why're we spendin' so much time writing on Day Trader's Paradise?
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