Bernake Speaks this week
Mortgage Bonds are starting the week higher as financial markets look ahead to Fed Chairman Ben Bernanke's semi-annual testimony before both the Senate and House tomorrow and Wednesday.
On the economic news front, Retail Sales fell more than expected while the NY State Manufacturing Index remains at relatively low levels. The weak data pushed Bond prices higher.I feel that you can still float longer-term, but I still feel locking as transactions approach a shorter time frame is prudent.
Leonard Winslow
Direct: 434-760-2580
E-fax: 434-688-0496
943 Glenwood Station Lane, Suite 200
Charlottesville, Va. 22901
leonard.winslow@newamerican.com
web: http://www.newamerican.com/leonard.winslow
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