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April 7th, 2014

April 7, 2014; 10:03am

Good morning!

Interest rate trends: Today – Lower; 10 days – Slightly lower; 25 days – Slightly lower

Interest rate recommendation:  Cautious float

Mortgage bonds (MBS’s) are doing well this morning, currently better by +28bps as the stock markets retreat.  There are no economic reports due today.  The U.S. Treasury will auction $64 billion in debt/notes this week.  On Wednesday we will get a glimps at the FOMC meeting minutes and Friday we will get a measure of inflation with the PPI.  While mortgage bonds improve, we will recommend cautiously floating.  Interest rates are better today than they were last week.  Have a great day!

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