Mortgage bonds prices opened positive this morning as the global economy remains in turmoil. We continue to see flight to quality buying of mortgage bonds helping erase some of the losses from Friday afternoon. The news this morning is dominated by reports of the Spanish Government taking over a regional bank. This reignites fears that contagion in Europe is spreading. There is no data today. Expect the world events to continue to factor into trading throughout the day.
Carlos Figueira - Keypoint Mortgage 