Our 5.5 mbs has opened slightly lower today and currently trading at 99-21+ which is 6 ticks lower then going out levels from Friday.

This is a fairly slow week for economic reports but there are several treasury auctions which will add extra supply of debt to the markets, which could hurt any advance to mbs. Thursday we get jobless claims and balance of trade, and Friday we get retail sales and consumer sentiment.

The bond market closes early today and will be closed tomorrow in observance of Veterans Day.