Monday, June 20, 2011
Monday Mortgage Bonds
After a 53bp intraday swing the 4% coupon ended down 12bp at 100.56 today ahead of this week's economic reports and the FOMC meeting. Mortgage Bond prices were capped by a rising Stock market today that was fueled by a decisive favorable court ruling by Wal-Mart and as Luxembourg’s Jean-Claude Juncker assured investors that the Greek debt woes will be dealt with and a solution will be found. The Dow gained 76.02 to 12,080.38, the S&P 500 Index jumped 6.86 to 1,278.36 while the Nasdaq gained 13.18 to 2,629.66. Oil settled at $93.26/barrel up 25 cents. Tomorrow's lone economic report is Existing Home Sales.
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