Fiscal Cliff
Mortgage Bonds continue their steady grind higher this morning aided by the ongoing weakness in the Stock markets.
The Fiscal Cliff issues remain a thorn in the side of the Equity markets especially after a remark from Senate Majority Leader Harry Reid late yesterday saying that there has been little progress in the debt talks, which caused a late day sell-off.
Technically, Mortgage Bonds will now battle former key technical resistance levels that have been hard to overcome since September.
Leonard Winslow
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leonard.winslow@newamerican.com
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ReplyDeleteDoes this means that whatever bill is being past, trading is somewhat effected. This bill according to Ed Butowsky will affect rich individuals as their taxes will be higher.