most notably

[solarbird]

Good afternoon. I've no time for anything real today except to follow up on a couple of notes from yesterday.

The US dollar is testing down limits across several currencies, and the DIX has settled a bit above 78.4 after a morning break down past the previous ledge of 79.2. Mish thinks there's a lot of anti-dollar sentiment and speculation, and to tread carefully. Naked Capitalism discusses this as well.

The MBS benchmark (FNMA 30 year) recovered a little today, up 7/32nds, after a morning which appeared to indicate another day of brutality. However, a sudden influx of buyers mid-day (east-coast time, anyway) reversed the market. On a related topic, in email, the Mortgage Bankers Association noted that commercial and multifamily mortgage delinquency rates continued to rise in 1Q2009:

Between the fourth quarter of 2008 and first quarter of 2009, the 30+ day delinquency rate on loans held in commercial mortgage-backed securities (CMBS) rose 0.68 percentage points to 1.85 percent. The 60+ day delinquency rate on loans held in life insurance company portfolios rose 0.05 percentage points to 0.12 percent. The 60+ day delinquency rate on multifamily loans held or insured by Fannie Mae rose 0.04 percentage points to 0.34 percent. The 90+ day delinquency rate on multifamily loans held or insured by Freddie Mac rose 0.08 percentage points to 0.09 percent. (Note that in June 2008, Freddie Mac began reporting multifamily delinquencies as those loans 90+ days delinquent. Prior to that time the reported numbers are for loans 60+ days delinquent). The 90+day elinquency rate on loans held by FDIC-insured banks and thrifts rose 0.66 percentage points to 2.28 percent.

That's all for now, everything else today has been about washing machines and other annoyances.

Comments

[anfalicious.livejournal.com]

7/32nds? WTF? When will you people drag yourselves into the medieval age and start using decimals ;) (oh, and you may want to look into the metric system as well :P)

[solarbird]

The best part is that they print it as tho' it were decimal. So you get things like 3.16 and 3.05 but those aren't decimal. Those are whole number dot thirty-seconds.