Happy December! Here's hoping that the month is off to a terrific start for you.
In the markets today, Mortgage Bonds are slightly lower this morning, while Stocks have moved higher.
In other news, the Pending Home Sales report came in better than expected, and the Institute of Supply Manager's Index was reported slightly lower than expected. Thus far, the reports have not impacted Bonds.
Currently, Bond prices remain overbought, as they have for the past few weeks. I recommend floating for now to see how prices behave near the current ceiling of resistance, but be prepared to lock if they move lower. If circumstances warrant a change of course, I will certainly let you know. In the meantime, I truly hope that you have a great rest of your day ahead. If there is ever anything that I can do for you, please let me know.
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