Latest Commentary
Today’s report is great news for our economy....unfortunately great news for the economy is better for stocks than bonds. Following the release at 830AM, benchmark Treasury rates rose 12 basis points and MBS prices moved considerably lower... which pushed mortgage rates higher...AGAIN. While we did see a considerable amount of weakness in the market...
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The markets' reaction to NFP today is living up to all the hype so far. Of course you're already aware of the negative implications in that bond prices are lower--much lower. 4.0's are down 23 ticks to 98-17 4.5's are down 16 ticks to 101-11 10yr tsy's are down 31 ticks, basically a full point, bringing the yield up to 3.491 30yr...
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