Market Update
Bonds are basically unchanged this morning, after moving steadily higher since October 15th.
Durable Goods Orders for September were reported lower than expectations, while new home sales increased 4.8% since this time last September. At 1 p.m. Eastern Time, the U.S. Treasury will auction off $13 Billion in Five-Year Notes. The additional supply could weigh on the market if the auction isn't well received by investors-–especially by foreign investors. Technically, Bonds are at a high-water mark, at least for 2007. Therefore, I will continue to float, but will have a finger on the lock trigger, should prices show signs of reversing lower.
Durable Goods Orders for September were reported lower than expectations, while new home sales increased 4.8% since this time last September. At 1 p.m. Eastern Time, the U.S. Treasury will auction off $13 Billion in Five-Year Notes. The additional supply could weigh on the market if the auction isn't well received by investors-–especially by foreign investors. Technically, Bonds are at a high-water mark, at least for 2007. Therefore, I will continue to float, but will have a finger on the lock trigger, should prices show signs of reversing lower.
posted by Capital Financial Network at 9:16 AM
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