Mortgage bonds added to the small gains from yesterday following reports of economic slowdown abroad.
Japanese
trade data was weaker than expected. In addition, stock futures point
to more weakness. The DOW closed down 68 points yesterday.
News out of the euro zone focused on a possible Greek exit. This talk has gone on for some time but the talk continues.
We
have a light data week but the Fed minutes this afternoon often cause
some volatility so caution is key. Exisiting home sales data will be
released @ 10am et but usually doesn't move the market much.
To
demonstrate how uncertain and unstable the euro zone is, here are two
world reports with totally different takes, reported within hours of
each other:
The brightest minds and richest investors are scrambling to end up on
the right side of that debate. Fortunately, "uncertainty" is good for
U.S. debt, unfortunately improvements can be erased as quickly as they
come as we have seen the past few weeks. In this environment it is smart
to take advantage of improvements when they come your way!
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