Good Morning,
I hope that your Friday is off to a terrific start. In the Markets today, Mortgage Bonds are trading higher this morning, now that the weight of the Treasury Department's record $123 Billion in auctions are behind us.
In the news, Personal Income was reported unchanged in September, while Consumer Spending fell 0.5%. Also this morning, some encouraging news came from the Chicago PMI and the Michigan Consumer Sentiment, which both came in better than expectations with mildly positive numbers.
Currently, Bond prices are trading just below the 25-Day Moving Average. I recommend floating for now. I will continue to monitor the market throughout the day and keep you informed of any major developments. I hope you enjoy your day and have a great weekend ahead too -- Happy Halloween! If there is ever anything I can do for you, please let me know.
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