Market Comment
Mortgage Bonds are under selling pressure on the heels of a better than anticipated Initial Jobless Claims reading. Bond prices have fallen below their 25-day Moving Average, and are now hovering just above important support at the 50-day Moving Average.
The Treasury will sell $13B in 30-Year Bonds today, with the results to be released at 1:00pm ET.
For today, I will recommend a Locking bias - with the Treasury auction potentially causing some jitters later today.
Leonard Winslow, New American Mortgage, Charlottesville
NMLS # 265272
434-760-2580 (cell)
leonard.winslow@newamerican.com
www.newamerican.com/leonard.winslowLicensed by the Virginia State Corporation Commission. License #: MC-5112, V2563958, MLO-4817VA
The Treasury will sell $13B in 30-Year Bonds today, with the results to be released at 1:00pm ET.
For today, I will recommend a Locking bias - with the Treasury auction potentially causing some jitters later today.
Leonard Winslow, New American Mortgage, Charlottesville
NMLS # 265272
434-760-2580 (cell)
leonard.winslow@newamerican.com
www.newamerican.com/leonard.winslowLicensed by the Virginia State Corporation Commission. License #: MC-5112, V2563958, MLO-4817VA
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