3/23/10

Most rate prices improved a bit today as mortgage bonds are trying to hold on to gains from Monday. Treasuries are near unchanged ahead of today’s 2-year auction. Economic data was limited again today in the form of a slightly better than expected drop in existing homes sales for February and a slight advancement of mid Atlantic manufacturing activity. The stock market indices continue to grind higher with the Dow up over 30-points at the moment. Treasury Secretary Geithner is on Capitol Hill discussing the future of Fannie and Freddie. Big stuff. 7 days remain of Fed purchases of MBS. For now we wait.