HOUSTON BY NUMBERS
18,031 Single Family homes for sale
9,329 Single Family homes pending sale
5,238 Single Family homes SOLD this month
Ever wonder what area a zip code covers? Here ya go!
TRICK or TREAT!
The trick; how to drive global stock markets higher. The treat; the Bank of
Japan treated markets with an unexpected increase in monetary stimulus
overnight. The reaction; sent stock bourses substantially higher in early
trading this morning. At 9:00 the US markets trading in the futures markets
were pointing to an all-time intraday high for the DJIA and the other indexes
on fire. The bond and mortgage markets taking a hit so far with stock markets
roaring.
It is interesting to listen to the
CNBC commentators this morning; one would think
Helicopter Ben was dropping $1000.00 bills across the country. The Bank of
Japan set the world on its heels with the stimulus announcement. It wasn’t
expected, and the massive amount is shocking; between what the bank is saying
it will do and the GPIF saying it would buy anything around the world equity
markets are on fire, The bond market still OK given the circumstances. Maybe
the bond market isn’t quite as excited yet about the news from Japan as equity
traders are now.
The bond and mortgage markets a
little weaker but given the news from Japan and the reaction to it in the
equity markets, treasuries are not suffering too much so far. Technically the 10
yesterday tested and held its 40 day average, so far today it tested it again
and has held. Stocks rallying because Japan’s pension funds are going to buy
global investments, and where better than in the US. Volatility remains high
for equity markets but at the moment the bond market is rather stable given the
backdrops. All that said, we are not as bullish as we had been; if the 10
closes above 2.35% we will have to accept the bullish bias turning more
bearish.
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