With no economic reports being released today and the Dow Jones Industrials looming near their record high, S & P 500 futures opened nearly flat. MBS bonds have landed just above another level of support at the 102.75 today. Should they fall through that level as well, we could see even more losses and higher rates. Nest week the U.S> Treasury will auction off $88 billion of notes and the Fed should rake in huge profits on their holdings of expiring notes. The Dow closed down 35 points today.
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