market gets hit ; here is why

W

Warrior4g

GROSS SAYS 'ALMOST NO CHANCE' OF INTER-MEETING RATE CUT BY FED - Reuters

09:58 PIMCO'S GROSS: FED RATE CUTS NOT HELPING MORTGAGE RATES WITH FANNIE MAE 30-YR RATE AT 5 3/4 PERCENT - Reuters

GROSS SAYS BATTERED MORTGAGE MARKET NOT EASING, ONLY 'TIGHTENING'

as soon as he said this,the market dipped. however,i think it would have fell anyway.
 
here is more on what bill gross said....


Pimco's Gross: Fed rate cuts not helping mortgage rates - Reuters
Pimco's Bill Gross said that Fed rate cuts are not helping mortgage rates with Fannie Mae 30-year rate at 5 3/4 percent, that battered mortgage market is not easing and is only 'tightening,' that the 20% decline in house prices is a 'serious asset deflation' and that there is 'almost no chance' of inter-meeting rate cut by the Fed. :
 
also mbia news again. this market has SERIOUS problems and is only good for day trades and maybe a few swings on very over sold conditions. other than that,holding overnight could prove to be very costly.
 
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