Good Morning,
I hope this finds you well and that your week is off to a fabulous start already.
Stocks are beginning the week by continuing their rally from last week, which is adding pressure to Bonds. Helping Stocks rally is news that small business lender CIT Group has reached a last-minute rescue plan to avoid bankruptcy as well as a forecast from Goldman Sachs that the S&P 500 will continue to improve this year.
There are no Treasury auctions this week and very few economic reports. However, a slew of earnings for the second quarter will continue--and if the reports are good, Bonds could face additional pressure to sells, causing mortgage rates to potentially move higher.
Currently, Stocks are near an important technical level that may halt their rally. I recommend floating, but I will let you know if we need to change course.
In the meantime, you are always welcome to follow me on Twitter @mortgageminute for even more immediate guidance. I hope you have a great rest of your Monday. If there is ever anything that I can do for you, please let me know.
No comments:
Post a Comment