Market Comment
Stocks are modestly higher this morning in response to a better-than-expected Housing Starts report--and this has applied some selling pressure on Bonds.
Housing Starts for January came in better than expected and at the highest level since July, thanks in large part to the extension of the Homebuyer Tax Credit.Currently, Bonds have support at both the 25- and 50-day Moving Averages.
Therefore, I recommend floating for now.
Leonard Winslow, New American Mortgage, Charlottesville
434-760-2580 (cell)
leonard.winslow@newamerican.com
www.newamerican.com/leonard.winslow
Licensed by the Virginia State Corporation Commission. License #: MC-5112
Housing Starts for January came in better than expected and at the highest level since July, thanks in large part to the extension of the Homebuyer Tax Credit.Currently, Bonds have support at both the 25- and 50-day Moving Averages.
Therefore, I recommend floating for now.
Leonard Winslow, New American Mortgage, Charlottesville
434-760-2580 (cell)
leonard.winslow@newamerican.com
www.newamerican.com/leonard.winslow
Licensed by the Virginia State Corporation Commission. License #: MC-5112
Comments
Post a Comment