Bond Comment
Mortgage Bonds dropped lower yesterday after the Fed's Monetary Policy and by the end of yesterday bonds climbed back to finish the day at near unchanged levels.
Todays news, Initial Jobless Claims came in a bit weaker than expected, indicating that the job market continues to be weak and slow in stabilizing.
Prices are still testing a tough ceiling of resistance at the 200-Day Moving Average. I recommend floating for now to see how Bond prices react to the government's auction of 7-Year Notes this afternoon, as well as any movement in Stocks. But be prepared to lock, since the situation can change quickly in today's volatile times.
Leonard Winslow
Dominion Trust Mortgage
434-760-2580
Todays news, Initial Jobless Claims came in a bit weaker than expected, indicating that the job market continues to be weak and slow in stabilizing.
Prices are still testing a tough ceiling of resistance at the 200-Day Moving Average. I recommend floating for now to see how Bond prices react to the government's auction of 7-Year Notes this afternoon, as well as any movement in Stocks. But be prepared to lock, since the situation can change quickly in today's volatile times.
Leonard Winslow
Dominion Trust Mortgage
434-760-2580
Comments
Post a Comment