Good Morning,
Mortgage Bonds opened lower this morning, but are now attempting to stabilize above a layer of support.
In the headlines today, the markets received good news when the Orders of Durable Goods for February came in better than expected and indicated the first increase in 6 months. New Home Sales also beat expectations. In addition, the inventory of unsold homes fell slightly. These are all very encouraging signs.
Currently, Mortgage Bonds are holding above important levels of support. I recommend careful floating for now. I will continue to monitor the situation and keep you informed if there's a change of course needed. In the meantime, I hope you enjoy the rest of your day. If there is ever anything that I can do for you, please let me know.
Wednesday, March 25, 2009
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