6/10/09

Mortgage Bonds finally mustered up some nice gains yesterday, but those gains were erased in early trading this morning.
In the news, US exports fell to the lowest level in almost 3 years, as the US Balance of Trade widened in April for the second month. However, US exports should improve a bit in May after the US Dollar recently sank against foreign currencies, which makes US goods cheaper and more attractive to buy.
In a recent development, investors are moving money into Oil and commodities, which is forcing Mortgage Backed Securities down even further.