Treasuries and mortgages opened a little better this morning. Today there isn't any economic data to think about. At 9:00 the 10 yr note +8/32 at 3.53% -3 BP, mortgage prices +2/32 (.06 bp). Over the last nine sessions the 10 yr note rate has increased 36 bps frm the interday lows, mortgage rates +26 bps in the dame time period. Economic data over the past two weeks has generally exceeded the estimates and increased the outlook that the economy is on the road to recovery. As long as the outlook of improvement continues interest rates will struggle.
Scott Ivey scott@scottivey.net 916.899.4839 Sent from my BlackBerry