Daily Market Comment

Mortgage Bonds are trading near unchanged, while trying to hold onto support at the 200-day Moving Average.

In the news, Initial Jobless Claims came in below expectations and Continuing Claims fell to the lowest in 13 months. Despite the better-than-expected Initial Jobless Claims reading, Stocks are lower and this has helped Bonds hold their ground.

Yesterday's Treasury auction results weren't good, and Bonds dropped as a result. With another Treasury auction due out this afternoon, I recommend locking to be safe.

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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