Stimulas???
Mortgage Bonds are trading higher this morning after the European Central Bank Chief Mario Draghi failed to announce any concrete plans to stem the financial crisis in that troubled region.
Yesterday, the Federal Reserve said that economic activity decelerated somewhat over the first half of this year but also stopped short of announcing plans for additional stimulus at this time.
Ahead of tomorrow's Jobs Report I am recommending to Lock any transactions in the short-term to avoid headline risk. Longer-term, I feel that Floating is prudent.
Leonard Winslow
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Charlottesville, Va. 22901
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Leonard, I dont understand why the FED is just gambling with our money. It is not good fiscal policy to interfere in the market. Let the interest rates rise to reduce the gambling attitude of borrowers. We will suffer a lot in the long run if the FED keeps the interest rates artificially low. We want growth but not in the artificial way.
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