Mortgage bond prices remain near unchanged to weaker this morning failing to erase the losses from yesterday afternoon. Once again stocks will take center stage with a lack of any economic data today. So far stocks are slightly lower with the DOW down 16 points but as we saw yesterday, that can always whip around the other way in an instant.
Yesterday we saw a general flight into stocks and out of Treasury bonds and mortgage backed securities as stocks surged higher. While not always the case, stocks and bonds often trade inversely.
Expect trading to be choppy with stocks continuing to be the focus.
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