Market Comment
Mortgage Bonds are trading higher, but are lower than their best levels from earlier this morning.
In the news today, more Bond supply is on the way, as the Treasury will auction off $20 Billion in 10-year Notes at 1 pm Eastern Time. Yesterday's 3-year Note auction wasn't received very well, so Traders will be watching today's auction very closely.For now, I recommend floating. But be prepared to lock in the recent gains if the situation changes. Bond prices have already been pushed back from resistance and may be further affected by the auction later today. I will keep you posted
Leonard Winslow. Dominion Trust Mortgage
434-760-2580 (cell)
leonard.winslow@dominiontrustmortgage.com
www.dominiontrustmortgage.com/leonard.winslow
Licensed by the Virginia State Corporation Commission. License #: MC-5112.
In the news today, more Bond supply is on the way, as the Treasury will auction off $20 Billion in 10-year Notes at 1 pm Eastern Time. Yesterday's 3-year Note auction wasn't received very well, so Traders will be watching today's auction very closely.For now, I recommend floating. But be prepared to lock in the recent gains if the situation changes. Bond prices have already been pushed back from resistance and may be further affected by the auction later today. I will keep you posted
Leonard Winslow. Dominion Trust Mortgage
434-760-2580 (cell)
leonard.winslow@dominiontrustmortgage.com
www.dominiontrustmortgage.com/leonard.winslow
Licensed by the Virginia State Corporation Commission. License #: MC-5112.
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