Pending Home Sales Index
Pending homes sales have stabilized this year and are slowly rising throughout all regions. URL for PDF attached. All regions and nationally are still below the 2001 benchmark however. The PHSI estimates the number of existing homes that are expected to be sold and settled within the next 2-4 mon ....

By Roger Arnold On 6/2/2009

What Went Wrong Wednesday?
Part 1: Convexity

Treasury yields spiked yesterday along with yields on mortgage related bond issues and mortgage rates.

Technically speaking the spike Wednesday was driven by what is referred to in mortgage bond parlance as convexity.

I will discuss convexity in ....

By Roger Arnold On 5/28/2009

The Eye of the Storm
The US equity run in the past few months has been impressive in its swiftness, as has been the rise in long term US treasury yields.

However, neither is indicative of a change in the economic trajectory.

There has been a slight decrease in some measurements of the rate of ....

By Roger Arnold On 5/15/2009