It's Tuesday and weaker-than-expected data along with apparently friendly comments from Janet Yellen have given the benchmark bond impetus to reverse course from being down this morning to now being up 18 basis points - 2 basis points above the 1st level of support which has been acting as a resistance level more recently. Across the pond, Greece followed through on its promises so there's no exciting news for the bond market out of Europe and ECB president Mario Draghi.
Consumer confidence came in at 96.4 vs. estimates of 99.6 and previous of 102.9. The Case-Schiller index came in a bit above expectations (4.3) at 4.5. Here's the chart:
Just this short post today because I'm very tight on time but keep a close watch on the mortgage bond market if you intend to float. Make it a great day and call me if I can help with anything mortgage related: 702-812-1214.
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