Posted by: cfigueira | June 2, 2010

Mortgage bonds prices

Mortgage bonds prices are near unchanged to slightly weaker in relatively quiet trading so far this morning.

The ADP employment report has been delayed by a day due to the holiday Monday. The figures will be released Thursday morning.

The market remains volatile. Stock futures pointed to a positive open and so far the DOW is up 23 points. Yesterday the DOW was all over the place. It initially opened negative, turned positive following the data, stayed positive most of the afternoon, only to close down 113 points. Expect more stock volatility.

Oil prices remained lower, near $72/barrel, as the Euro was weaker and stocks remain volatile. Falling energy prices generally enable mortgage interest rates to fall in that inflation fears are somewhat alleviated.

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