Yesterday, the MBS Market got a boost from weaker
than expected Durable Goods Report. MBS bond
prices were 3/8th higher than at Friday’s close.
Overnight, treasuries advance for the fourth day before
economists predict confidence among U.S. consumers
declined for a second month. At 9 AM the Case-Shiller
Home Prices Report is released. Trading levels
continue to be weak as the summer holiday draws
closer, if these trade levels continue it won’t take much
to cause a re-price. The final, potential market mover
today is Federal Reserve Bank of San Francisco
President John Williams and ECB Executive Board
Member Benoit Coeure are due to speak on monetary
policy today in Gothenburg, Sweden.
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