In contrast to Monday, weakness in stocks yesterday helped the fixed income sector move higher. Both benchmark Treasuries and mortgage backed securities moved higher in price lower in yield erasing the price losses of the day before. Despite the decent price gain with MBS, only a couple lenders repriced for the better proving yet again they are slow to pass along gains but very quick to take away.

We do have several economic reports hitting the news wires this morning.
...

but though I was even more enthused about becoming a member of their team after the (pre-interview) tour of the operation, the interview left me wondering.

The people were nice enough. They are doing great work for people in need of services (poor, hungry, homeless, aging, infirm). I can definitely do the job, if I am chosen.

Six people were on the panel. Five asked the questions, in rotation, reading from a script. The hiring manager had already interviewed me by phone,...

Between teaching and working on what I hoped was a trivial exercise, I didn't make it very far anywhere today. Not only did nothing really work out in the research department, but I woke up last night from a nightmare with a strained neck. I know that no nightmare is preferred, but this one was a nice reprise from the nightmares about math and research not working out. Last night I dreamt of a mascarade/halloween party that went wrong with people killing each other and a set of supernatural clowns...

On this day back in 1984

Birth to a future Olympian

http://chuvachienes.com/2008/12/12/chuvahotness-14-olympic-swimmer-ryan-lochte/

The stock market went on a tear yesterday pressuring the fixed income sector lower. We have referred to this as the flow of money. Typically, when stocks move higher it is at the expense of bonds; however, it can work in both directions. Yesterday, it worked against bonds pressuring the prices of mortgage backed securities lower. Most of the price losses with MBS occurred prior to lenders issuing rate sheets so no reprices for the worse were reported but consumer borrowing costs were on average...