Good Tuesday A.M.,
Stocks are up with the Dow + 300. I cannot explain why, but it is the reality. The tech-heavy Nasdaq is down 50 which is atypical. Bonds holding their own as they have been. The 10-yr is at .60 and Mortgage bonds are up a few bps. We are in the middle of the range so it is hard to know which way bonds will go. There is a strong argument that, with Fed support buying mortgage bonds as it has been doing, rates will improve. There is minimal data this week and with rates where they are, it is tough not to lock.
We all know face masks are important. Which group are you in?
Please remain safe and stay healthy, make today great!