Monday, June 30, 2008
Bonds have remained flat for most of the day. Currently the FNMA 5.5% 60 yr is down 6 Bp for the day and has been between -6 and +12. With investors looking at a $162 billion war spending bill marked for a volatile region, oil is where the eyes are today With oil passing a $143 a Bbl today, bonds are going to be hard pressed to make any major gains. The only potential mover out today was the Chicago PMI, which once again came in under 50 (showing contraction in the economy). With this number coming in close to estimates, it had little effect to the market. I would suggest locking for the short term and keeping a close eye on oil to see which way the speculators are going to send the market.
Looks like 6.25% is right there
Karl Menzer
435-849-0212
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