Mortgage backed securities keeping pushing levels of resistance which is good for mortgage pricing and continuing to test how low rates can go.
Bonds are getting a boost today as investors seek a safe haven after hearing news of the spreading swine flu, which is pressuring Stocks in the US and around the globe.
In other news, Chrysler has received concessions from the UAW, while General Motors is phasing out its Pontiac division and offering a Bond exchange as part of its restructure.
With no economic reports scheduled for today and the boost in Bonds, I recommend floating. I will let you know it the situation changes later today when the Treasury Department auctions off its supply of bills and notes.
Oh by the way, I’m never too busy for any of your referrals.