Mortgage bond prices opened near unchanged holding the gains from Friday afternoon.
In news, personal income rose 0.4%, lower than the expected 0.5% increase. Outlays rose 0.2%, higher than the expected 0.1% increase. The PCE core index, an inflation indicator, rose 0.2%, higher than the expected 0.1% increase. Overall the data was mixed but the initial reaction was ok. There is no additional data today.
Stock futures currently are near unchanged on the day.
Oil prices initially fell this morning as the storms in the Gulf are expected to miss the oil platforms.
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