MBS have opened slightly higher today. There are no economic reports being released that will move the markets, so it appears that headlines and stocks will drive the trading. Big Ben Bernanke and Sec. Paulson will be on Capital Hill testifying on the $700 billion bailout plan. We will keep an eye and an ear open to this testimony and be back to report any market moving tape bombs. It does appear that this plan does have support from both sides of the aisle, and will probably pass sometime this week.
It appears to be safe to be in the pool today, floating. We want to caution you, though, as one big headline can change things pretty quick. For a more indepth understanding of todays action, click the professional blog link at the top of this page.