It's 10:27am CST and I am already exhausted! The MBS (Mortgage Backed Securities) and 10 Year Treasury started the morning out well then in a blink everything went red and then in another split second we were back to gains and substantial ones at that. Why? Well there is not a whole lot of data until Wednesday when retail sales results are released but the market has been anything but predictable for quite some time. I believe investors are just starting to realize that the economic issues are here to stay and the efforts that the Fed, Government, and others attempt to make will not have an immediate impact on the overall economy, if at all. In fact the moves that have been made by the above bodies are being questioned by many "seasoned" economic professionals. Why? Simply put inflation. This is the value of the dollar and too much money being released into the economy. Now I am not going to go into detail but I have read, spoken to, and viewed the information and the individuals releasing it and all I can say is that their claims make a lot of sense.
So where does that leave us this week? The majority of "pertinent" data will not be released until Wednesday morning and will continue through Friday morning. Not to mention we have the Fed meeting again next Tuesday the 18th. For me to say the market will be volatile is an understatement (see my first two sentences of this post) however that does not mean it all won't be good! Keep your hands on your seat and brace yourself for another wild ride as I'm sure this week will take us on one. Below is a list of things to watch for that will (in my belief) impact the mortgage and real estate environment in some fashion.
Wednesday 3/12 Retail Sales:
Thursday 3/13 Weekly Jobless Claims:
Friday 3/14 February CPI (Consumer Price Index):
Not to mention any and all other news releases concerning any financial sector firm; (i.e. Countrywide SEC investigation)
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Monday, March 10, 2008
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