Good Morning,
Mortgage Bonds are getting a boost higher this morning, as prices respond to weaker than expected housing numbers and tame wholesale inflation data.
Housing Starts and Building Permits both came in under expectations. In addition, the Producer Price Index--which measures wholesale inflation--unexpectedly fell due to a drop in energy prices. Next month's number could climb higher again, as oil and natural gas have both been on a tear lately.
For now, I recommend floating, since the Bond is resting above the 200-Day Moving Average. But stay tuned for any major changes that may occur during the day. I will keep you posted. In the meantime, I hope that you enjoy your day. If there is ever anything that I can do for you, please let me know.
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