Mortgage bond prices opened lower this morning erasing much of the gains from Friday afternoon. There is no data today. We have inflation data later in the week. Look for mortgage bonds to play off of stock and oil prices. Stock futures currently point to a positive open later this morning. Stocks and bonds often trade inversely, as has been clearly evident over the past few months of trading. Oil prices are higher this morning as Asian equities and the Euro are higher. The only thing currently keeping oil prices from pushing even higher are high inventories. Oil is currently around $75/barrel.
Carlos Figueira - Keypoint Mortgage 