April 7th, 2014
April 7, 2014; 10:03am
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!