Good Morning,
I hope your Tuesday is off to a great start so far.
In the Markets today, Mortgage Bonds are higher this morning, as they continue to follow through on yesterday's day long rally.
Helping give Bonds a lift was good news on inflation from the Labor Department. Worker Productivity came in better than expected and rose at its fastest pace in 6 years, as companies cut costs and try to maximize output from their current staff. This efficiency helps curb inflation, which is good for long-term Bonds like Mortgage Bonds.
Currently, Bonds are higher after breaking above resistance this morning. I recommend floating for now, as we watch to see how today's Treasury auction of 3-year Notes is received. I will certainly keep you posted on any major developments.
In the meantime, have a great day. If there is ever anything that I can do for you, please let me know.
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