Eurodrama Far from Over

Mortgage Bonds are starting the week near unchanged, as the Federal Reserve continues to buy Mortgage Bonds in the open market, shrugging off some optimism out of Europe and better than expected manufacturing data here in the States.

Mortgage Bonds are going to receive support from the Fed, the Eurodrama is far from over and the US economy still remains quite fragile. For these reasons - I will continue to recommend a Floating bias.

Leonard Winslow
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