Good Morning,
I hope your Easter weekend was peaceful and full of much personal joy for you and those you care about.
In the markets this morning, Bond prices plunged below the 25-Day Moving Average last Thursday and are having a tough time moving back above it today. Stocks, on the other hand, are a little lower, but are showing signs of continuing their recent run higher.
In the news, Goldman Sachs is considering a multi-billion dollar share offering to help repay the $10 Billion it borrowed from the government's TARP program. Also, 1st quarter earnings reports are due this week from CitiGroup, General Electric, Google, Intel, JP Morgan, Goldman Sachs and many others. Their reports should give us a broad view of how major companies are coping with the economy.
Currently, Mortgage Bonds are facing a tough battle against the 25-Day Moving Average. Even though rates have deteriorated, mortgage rates are still traveling in a range that is near an all-time low. Therefore, I recommend LOCKING, especially if closing is near future.
I hope you have a great rest of your day (rainy here in Des Moines, Iowa). If there is ever anything that I can do for you, please let me know.
Monday, April 13, 2009
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