Good Morning,
Mortgage Bonds are trading near unchanged levels to start the week. Trading volume may be light today because of the Jewish high holy day of Yom Kippur, and lighter trading volume can make the market susceptible to greater volatility.
There are no economic reports set for release today; however, the rest of the week is filled with important releases, including Friday's heavyweight Jobs Report. In addition, there are no big Treasury auctions scheduled for this week, but on Thursday the Treasury will announce the size of next week's auctions and this announcement could be a market mover.
I recommend floating for now, as Bonds test resistance at some of the best levels seen since late May. If anything changes, I’ll get back to you. In the meantime, I hope that you enjoy the rest of your day. If there is ever anything that I can do for you, please let me know.
Monday, September 28, 2009
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