Market Update - 12/05/08 10:58 AM
Price Trend: Negative
Price Volatility:  Very High
Recommendation:  Consider Locking  
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Current Conditions:                Today's Economic Data (all times PDT)
 
FNMA 5.5          101-08  (-13)                 ADP Employment                        5:15                 
GNMA 5.5          101-03  (-15)                 Productivity & Costs                    8:30
10yr Yield          2.754%                         ISM Services                              7:00
                                                            Fed's Beige Book                        11:00
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Commentary:

Bonds have come under pressure this morning as stocks have rallied after being down over 100pts early in the session.  There was little reaction to the data released this morning in either market.  Bonds continued selling of in what appeared to be technically driven trading.
 
Later this morning the … (1 comments)