Bernake speaks today

Mortgage Bonds are trading slightly lower as Traders remain cautious ahead of Fed Chairman Bernanke's semi-annual testimony in front of the Senate Banking Committee that begins this morning.


In economic news, inflation at the consumer level remained tame in July as evidenced by the unchanged reading in the Consumer Price Index (CPI). The National Association for Business Economics (NABE) reported yesterday that the outlook for job growth has fallen due to a weakening economy.

For now, I am recommending a floating bias heading into Mr. Bernanke's testimony, but sentiment can quickly reverse course. If anything changes, I will get back to you.





Leonard Winslow
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