Interest rates a little higher this morning with global stock markets improved. The 10 yr at 9:00 at 1.83% +2 bp with 30 yr MBS price down 15 bp frm yesterday’s close. News out of Europe continues to improve with increasing belief that some kind of plan is taking shape, as long as that is the thinking the interest rate markets will find it very difficult to decline while keeping US and global equity markets well supported. Recent improvement in US stock indexes, although on low trading volume,...

This morning we read;

Treasuries and mortgages starting a little weaker this morning after the drop in prices yesterday afternoon when the stock indexes rallied off the lows seen yesterday morning. The DJIA traded down 200+ points yesterday morning, but cut the loss by half at the close to -101. The rate markets do what they do, when stock indexes improve it takes yields a little higher. This morning in pre-market trade the stock indexes were fractionally better with the bond and...