Good Afternoon,
I hope that this note finds you well and enjoying a good day so far.
Mortgage Bonds opened lower this morning, in anticipation of a massive Treasury auction expected next week. However, earlier today, we received some good news when the Treasury Department announced that it is scaling back its auction because it was weighing down so heavily on the Bond market and the US Dollar.
In other news, Initial Jobless Claims, which is a leading indicator of the health of the jobs market, was reported in line with expectations.
Overall, Stocks opened a bit higher this morning, but there are several technical signals that suggest weakness ahead. Additionally, Stocks could be exacerbated by the tomorrow's Jobs Report, which is expected to be negative. Therefore, I recommend floating for now. I will continue to monitor the situation and keep you posted as things develop.
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.
I hope that this note finds you well and enjoying a good day so far.
Mortgage Bonds opened lower this morning, in anticipation of a massive Treasury auction expected next week. However, earlier today, we received some good news when the Treasury Department announced that it is scaling back its auction because it was weighing down so heavily on the Bond market and the US Dollar.
In other news, Initial Jobless Claims, which is a leading indicator of the health of the jobs market, was reported in line with expectations.
Overall, Stocks opened a bit higher this morning, but there are several technical signals that suggest weakness ahead. Additionally, Stocks could be exacerbated by the tomorrow's Jobs Report, which is expected to be negative. Therefore, I recommend floating for now. I will continue to monitor the situation and keep you posted as things develop.
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.
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