Both stocks and bonds continued to be plagued by more volatility today. The Dow Jones Industrials which opened higher, was down 500 p;points during the session prior to closing up 330. Correspondingly the 4.0% coupon Mortgage Backed Securities, which we are now following due to the higher rate environment, was trading as high as 103 prior to closing at 102.69. Next week we will have readings on inflation featuring the Consumer and Producer Price Indices.
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