Good Morning,
I hope that this note finds you well and that your week is off to a terrific start.
In the markets today, Mortgage Bonds are down on the day and well off their opening levels. This comes after Mortgage Backed Securities tested the 200-Day Moving Average on Friday and were subsequently turned lower. Since Bond prices are starting to react negatively to any news of economic recovery, it's truly quite important to work with a knowledgeable advisor who monitors the market's every move.
In Stocks, the huge rally of late looks like it may be set to stall. The S&P 500 failed to break above a tough ceiling of resistance and continues to show negative technical signals. If Stocks pull back, it could help Bonds with a much-needed bounce in the future. For now, however, Bonds are down, so I recommend locking in loans that we need to close in the short term. If the situation changes, I will certainly let you know.
In the meantime, I truly hope that you enjoy the rest of your day. If there is ever anything that I can do for you, please let me know.
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