Locking Stance: LOCKING Mortgage Bonds: 0bp
Mortgage bonds had a rough week last week and rates rose around .375% as a result. This week promises more of the same. Today’s agenda only holds the LEI report, so we can expect fears to continue controlling the markets, but there is a need for a correction.
I suggest locking as bonds, despite being oversold, are setting new lows for recent history (back to October) and are firmly in a downtrend still. i will be away from the computer today (mostly), but will report back later on today’s events.
