Good Afternoon,
I hope that your Friday is going great and that you are planning a fabulous weekend ahead wherever you may be.
In the Markerts today, Mortgage Bonds are trying to stabilize after yesterday's sharp losses, which came in response to the Treasury announcing a $115 Billion auction of Notes next week. Also adding pressure to Bonds was an explosive move higher in Stocks, with the Dow closing above 9,000 for the first time since Jan 6th.
In the news, Consumer Sentiment--which measures consumer attitudes regarding the economy--was reported at 66, meeting expectations but continuing a modest trend of improvement.
Currently, Stocks are down just a bit after touching resistance yesterday. Since a drop in Stocks might help Mortgage Bonds, I recommend floating for now. But certainly be on guard in case the Stock market becomes re energized. If anything happens that requires immediate attention, I will certainly let you know.
Don't forget to check out my latest market and financial updates on Twitter @MortgageMinute. In the meantime, if there is ever anything that I can do for you, please let me know.
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