Good Morning.

How in the world does Georgetown lose in round 1?!?!?!?  They aren't the only ones heading back to class early though. 13 seed  Murray State beat 4 seed Vandy.  Marquette, who was a five seed,  couldn't get passed no.11 Washington. Notre Dame, the six seed lost to Old Dominion. Meanwhile,  Nova just barely pulled out a nail biter against Robert Morris and New Mexico, who had their second lowest point total on the season, found a way to squeak one out against 14 seed Montana.

Bracketology gets interesting from here...especially with the Hoyas down and out.  Did you call any of these upsets? What shocker did you forecast for day 2?

The econ calendar is quiet today, making secretive tourney watching that much easier...COUGH COUGH HERE IS THE LINK COUGH COUGH

Both benchmark 10s and rate sheet influential MBS coupons are opening the day weaker...in a very slow trading environment. 10s moved sideways overnight before yield spiked higher in the early N.Y. session hours. I do not have a noteworthy reason for you at the moment. Liquidity is thin...all it take is one sizable sell order to send the market lower.

The 3.625 coupon bearing 10 year note is -0-07 at 99-11 yielding 3.704%..heading for a test of the 3.71 pivot.

The FN 4.5 is -0-08 at 100-23....

Rate sheets will be worse today.....I hope the range didn't play you.

Yawn. Happy Friday by the way...