Market Comment
Mortgage Bonds are slightly higher this morning, but well off their best levels earlier in the day.
Bonds received a boost this morning as confidence in Europe's financial stability waned again this morning--pushing the Euro and Stocks down. Despite that news, Bond prices have been unable to make any meaningful ground, due to inflation concerns in China and this week's impending US Treasury auctions, which begin this afternoon.
Currently, Bond prices are battling a dual ceiling of resistance. I recommend floating for now, but be prepared to lock since the markets are extremely volatile right now and the situation could change quickly.
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
Bonds received a boost this morning as confidence in Europe's financial stability waned again this morning--pushing the Euro and Stocks down. Despite that news, Bond prices have been unable to make any meaningful ground, due to inflation concerns in China and this week's impending US Treasury auctions, which begin this afternoon.
Currently, Bond prices are battling a dual ceiling of resistance. I recommend floating for now, but be prepared to lock since the markets are extremely volatile right now and the situation could change quickly.
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
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