Happy friday! Some good news today as Mortgage Bonds seem to be stabilizing; however, still have a decent amount of making up to do.
Existing home sales beat expctations of 4.85 mill. coming in at 4.89mill; although down from April's 4.94 million. The unsold homes inventory was reported to be a 11.2 month supply. As a result, the selling pressure still lies with Stocks.
And, in observance of Memorial Day, the Bond market will close at 2 pm as well as be closed on Monday.
All the best!
I hope you all enjoy the Memorial Day weekend!!!
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