Posted by: cfigueira | October 5, 2010

Mortgage Industry News

Key Economic News:

A light day, with only the ISM nonmanufacturing index this morning and the weekly confidence survey later in the aternoon.

10:00: ISM nonmfg index for Sept…consolidation? This index has been a bit quicker than its manufacturing cousin to show a slowing in growth, having dropped nearly 3 points in August. The employment index slipped back into contraction territory last month.
Median forecast (of 75): 52, ranging from 50 to 53.3; last 51.5.

17:00: ABC consumer comfort index…it edged up one point last week to -45.

Advice:

With the ISM nonmfg index not expected to show much change this morning. I expect the market to stay in a close trading range above the 103.000 price.

Float short term, float long term.

My position on MBS stays neutral today

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