February 28th Mortgage Market Wrap-up 8

Mortgage backed securities closed down 19 basis points today at 102.28 having fallen through support offered by the 10 and 25 day moving averages prior to closing right at the 10 day.  Bonds are a little spooked in anticipation of what President Trump might say in his speech to the joint houses of Congress this evening.  To0 much economic stimulation might cause stocks to rise at the cost of bonds.  The 30 year was at 4.25% today.