Cautiously Floating:
After a sharp decline last Friday, Mortgage Backed Securities are starting the week by trading higher. The bond markets were closed yesterday in observance of Columbus Day. Stocks are down this morning not able to rise above the 10,000 mark that many had hoped for. Crude Oil is unchanged this morning at $73.30 per barrel. OPEC says it sees s stronger demand for oil in 2010.
Since there are no economic reports due today, Bonds will probably react to Stocks, which are lower this morning after Johnson & Johnson’s revenues were reported below expectations. There is an abundance of economic news available for the balance of the week and the FED is releasing the minutes of their meeting last month but it should not have much effect on the markets.
If you or someone you know is considering Buying, Selling or refinancing please contact me at 801 668 2112.
