Mortgage backed securities managed to post modest gains yesterday in very light trading. All markets, from stocks to treasuries, are at tipping points, in search of new direction. Is the recession over or are we doomed to stagnate? That is the questions market participants need answered. Some economic reports have hinted that the worst is behind us while others indicate a recovery will be a long drawn out process With the direction of our economy being an unknown, markets are in waiting mode. What is your opinion on the state of our economy?
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