Good Morning!
I hope your Wednesday is off to a FABULOUS start so far. I just wanted to take a few minutes to provide a brief update on today's activities.
In the Markets, Bonds are trading slightly higher this morning, as Stocks move lower on news of the worst decline of the year in the Chinese Stock market.
In other economic news, Durable Goods Orders came in with weaker than expected numbers. However, when you remove the very volatile transportation orders, Durable Goods Orders actually rose better than anticipated. Overall, recent readings of this report do suggest some moderate stabilization within the economy.
Currently, Mortgage Bonds are trading just above the 25-, 50- and 200-Day Moving Averages. I recommend floating for now. But be prepared to change course if today’s Treasury auction or other market news impacts Bonds negatively. I will certainly keep you posted if news of the day requires a change of course. 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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