Market Comment
Mortgage Bonds are trading higher so far today but off the best levels, as the Bond market continues to attract investment dollars as a safe haven from financial uncertainty in Greece and now in Portugal.
In economic news, the ADP report on employment showed 32,000 private jobs created in April, which represents the third straight month in positive territory.
For now, I recommend floating as I continue to monitor Bonds, which are nearing tough overhead resistance. I will let you know if a change of course is necessary.
Leonard Winslow, New American Mortgage, Charlottesville
434-760-2580 (cell)
leonard.winslow@newamerican.com
www.newamerican.com/leonard.winslowLicensed by the Virginia State Corporation Commission. License #: MC-5112
In economic news, the ADP report on employment showed 32,000 private jobs created in April, which represents the third straight month in positive territory.
For now, I recommend floating as I continue to monitor Bonds, which are nearing tough overhead resistance. I will let you know if a change of course is necessary.
Leonard Winslow, New American Mortgage, Charlottesville
434-760-2580 (cell)
leonard.winslow@newamerican.com
www.newamerican.com/leonard.winslowLicensed by the Virginia State Corporation Commission. License #: MC-5112
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