Market Comment
The problems in Greece have eased over the weekend upon news of a bailout, which has sent Bond markets lower as investors unwind their safe haven trade.
In other news, Personal Income rose in March and Personal Spending rose by the most in five months, while Personal Savings fell to its lowest level since September 2008. Also this morning, the Fed's favorite gauge of inflation, the Core Personal Consumption Expenditure Index, was reported in line with estimates for March.
Currently, the Bond is battling tough resistance at both the 100- and 200-Day Moving Averages. I recommend floating for now, but be prepared to lock if the situation changes.
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 other news, Personal Income rose in March and Personal Spending rose by the most in five months, while Personal Savings fell to its lowest level since September 2008. Also this morning, the Fed's favorite gauge of inflation, the Core Personal Consumption Expenditure Index, was reported in line with estimates for March.
Currently, the Bond is battling tough resistance at both the 100- and 200-Day Moving Averages. I recommend floating for now, but be prepared to lock if the situation changes.
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
Comments
Post a Comment