Market Comment
Yesterday, Bond prices dipped down to touch the 25-Day Moving Average before eventually climbing higher to close above the 100-day Moving Average. A similar pattern may be developing today.
In the news today, the ADP Employment Report showed 20,000 private-sector jobs lost in February. The news comes just days before the government releases its official Jobs Report on Friday.
Currently, prices are attempting to hold onto support at the 100-Day Moving Average. Therefore, I recommend floating for now. But be prepared to lock if events later today require a change of course."
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
In the news today, the ADP Employment Report showed 20,000 private-sector jobs lost in February. The news comes just days before the government releases its official Jobs Report on Friday.
Currently, prices are attempting to hold onto support at the 100-Day Moving Average. Therefore, I recommend floating for now. But be prepared to lock if events later today require a change of course."
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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