It's been another wild and volatile morning for Mortgage Bonds after a slew of disappointing economic news and negative corporate earnings reports initiated an early sell-off in the Stock market.
Initial Jobless Claims reached its highest level since November 1982. In addition, housing remains weak as Housing Starts fell more than 15% in December and Building Permits also came up short.
Mortgage Bonds are attempting to trade above support. I recommend floating for now, but I will let you know if today's volatility requires a change of course.
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