Bad news continues to infiltrate the market today, as Japan becomes the latest economy to fall into a recession and fears of a worldwide recession have forced Stocks around the globe lower.
In other news, banking giant Citigroup announced it will lay off 50,000 people on top of the 23,000 jobs they cut earlier this year. Additionally, Industrial Production showed a 1.3% rise; however, September's was revised lower to -3.7%--making it the largest monthly drop in industrial production in over 60 years.
Currently, Mortgage Bonds are near unchanged levels and linger near the 200-day Moving Average for the 9th consecutive trading session. For now, I recommend floating, but be ready to lock if pricing drifts down...more CLICK HERE
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